Nothing closes $96 million round ahead of Nothing Phone 2 launch: Here's what we know

London-based consumer technology brand Nothing on Wednesday announced a $96 million fundraising round led by Highland Europe, with participation from existing investors GV (Google Ventures), EQT Ventures and C Capital, along with house music supergroup Swedish House Mafia.

With this round, Nothing‘s total funding has reached $250 million, as the company also crossed selling 1.5 million products.

“In just over two years, we’ve assembled one of the strongest teams in the industry and sold over 1.5 million devices worldwide,” said Carl Pei, Nothing CEO and Co-founder.

“It’s clear that there’s real demand for an innovative challenger in the consumer tech industry, and with this new round of financing, we’ve never been better positioned to realize our vision to make tech fun again,” Pei added.

We’re excited to share that we’ve recently closed a $96M financing round, led by Highland Europe, with participation from @GVteam, @EQTVentures, C Capital and @swedishousemfia alongside others.

As we’ve just crossed 1.5M products sold, this marks a new milestone on our journey… pic.twitter.com/ObmJwUIHuh

— Nothing (@nothing) June 28, 2023

Nothing, which is geared up to launch a refined Phone (2) in India on July 11, has more than 450 people working across seven offices worldwide.
Phone (2) features a lower carbon footprint than its predecessor as a result of the company’s ongoing sustainability initiatives.

Highland Europe, a London-based venture capital firm focusing on high-potential technology companies, invested based on Nothing’s success to date and future potential. Tony Zappala, Partner at Highland Europe, led the recent round and will be joining Nothing’s board.

According to Zappala, “We firmly believe that Nothing has something truly distinctive to offer, coupled with an exceptional team”.

“We are enthusiastic about supporting Nothing as they take on the consumer tech giants and challenge the prevailing norms,” he added.

The company has so far launched Phone (1), true wireless audio devices Ear (2) and Ear (Stick).

–IANS