Nothing Raises $65 Million Sequence A Extension, Companions With Qualcomm to Deliver Snapdragon-Powered Units
Nothing on Wednesday introduced that it had accomplished a Sequence A extension funding of $50 million (roughly Rs. 376.20 crores) from strategic and personal buyers together with Swedish DJ duo Axel and Christofer Hedfors and Sebastian Ingrosso. The London-based firm led by OnePlus Co-Founder Carl Pei additionally introduced its partnership with Qualcomm Applied sciences to make use of its Snapdragon platform for powering future tech units. Nothing began its journey by introducing the Ear 1 true wi-fi stereo (TWS) earbuds earlier this 12 months.
The funding will likely be used in direction of analysis and growth (R&D) in preparation for Nothing’s entry into new product classes, the corporate mentioned in a press release.
Nothing has not revealed particulars about its subsequent providing but. Nonetheless, the corporate urged that it might increase its product lineup by including new linked units by means of its partnership with Qualcomm.
“Seamless connectivity is paramount to attaining our imaginative and prescient of a future with out limitations between individuals and expertise,” mentioned Carl Pei, CEO and Co-Founding father of Nothing. “We stay up for working alongside Qualcomm Applied sciences and our strategic buyers to realize Nothing’s subsequent section of development.”
Qualcomm has a variety of Snapdragon chipsets that Nothing would be capable of use to allow wi-fi connectivity on its future units. It’s, although, unclear whether or not the younger firm is able to enter the fast-growing smartphone market immediately or has plans to carry some Web of Issues (IoT) units within the preliminary stage.
“We’re excited to assist Nothing carry to life its extremely anticipated ecosystem of tech merchandise,” mentioned Enrico Salvatori, Senior Vice-President and President, Qualcomm Europe/MEA. “By combining the facility and effectivity of Snapdragon cell platforms with 5G connectivity throughout many various classes of units, we’re fostering the event of revolutionary merchandise which can be meant to learn shoppers and ship richer, extra immersive experiences.”
Carl Pei left OnePlus final 12 months to begin Nothing as his new enterprise. In July, the corporate brought the Nothing Ear 1 as its first gadget. The earbuds provide an eye-catchy clear construct alongside providing options corresponding to lively noise cancellation and cross-platform help.
Within the two months since their sale started, the Nothing Ear 1 earbuds have surpassed international shipments of 100,000 items. In addition they received a price cut through the latest Flipkart Big Billion Days sale.