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Carl Pei's Nothing raises US$50 million, partners with Qualcomm

Carl Pei's Nothing raises US$50 million, partners with Qualcomm

FILE PHOTO: Qualcomm logo is during Munich Auto Show, IAA Mobility 2021 in Munich, Germany, September 8, 2021. REUTERS/Wolfgang Rattay

STOCKHOLM: Technology company Nothing, founded by OnePlus co-founder Carl Pei, on Wednesday (Oct 13) said it has raised US$50 million from strategic and private investors, and has partnered with US chipmaker Qualcomm.

The company launched its first device - a transparent earbud that comes with active noise cancellation and a retail price of US$99 - in August and sold more than 100,000 of those in the first two months.

A tie-up with Qualcomm, whose chips are present in a range of devices from cars to phones, would help Nothing to build future products.

"The successful launch of our first product, ear (1), proved that there is room for a new challenger brand to emerge and disrupt today's sea of sameness," CEO Pei said in a statement.

UK-based Nothing's backers include GV, Tony Fadell, designer of Apple's iPod, Twitch co-founder Kevin Lin and Reddit CEO Steve Huffman. It had raised US$15 million in a Series A round led by GV, formerly Google Ventures, in January.

Source: Reuters

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