Nothing announced on Wednesday that there would be $ 50 million Series A expansion funding from strategic and private investors, including Swedish DJ duo Axel and Christofer Hedfors and Sebastian Ingrosso, has completed. The London-based company, led by OnePlus co-founder Carl Pei, also announced its partnership with Qualcomm Technologies to leverage its Snapdragon platform to power future tech devices. Nothing started its journey with the introduction of the Ear 1 True Wireless Stereo (TWS) earbuds earlier this year.
The funds will be used for research and development (R&D) to prepare for Nothing’s entry into new product categories, the company said in a statement.
Nothing has yet revealed any details about its next offer. However, the company suggested expanding its range of products by adding new networked devices through its partnership with Qualcomm.
“Seamless connectivity is paramount to realizing our vision of a future without barriers between people and technology,” said Carl Pei, CEO and co-founder of Nothing. “We look forward to working with Qualcomm Technologies and our strategic investors to bring Nothing to the next phase of growth.”
Qualcomm has a number of Snapdragon chipsets that Nothing could use to enable wireless connectivity on its future devices. However, it is unclear whether the young company is ready to enter the fast-growing smartphone market directly or whether it wants to introduce some Internet of Things (IoT) devices in the initial phase.
“We are excited to help Nothing bring to life its much-anticipated ecosystem of technology products,” said Enrico Salvatori, senior vice-president and president, Qualcomm Europe / MEA. “By combining the power and efficiency of Snapdragon mobile platforms with 5G connectivity across many different device categories, we are promoting the development of innovative products that benefit consumers and offer a richer, more immersive experience.”
Carl Pei left OnePlus last year to start Nothing as his new company. In July, the company launched the Nothing Ear 1 as the first device. The earbuds have an eye-catching transparent construction and offer features such as active noise cancellation and cross-platform support.
In the two months since sales began, the Nothing Ear 1 earphones have topped global shipments of 100,000 units. They also received a price cut during the recent Flipkart Big Billion Days sale.
Can Nothing Ear 1 – the first product in OnePlus co-founder Carl Pei’s new outfit – be an AirPods killer? We covered this and more on Orbital, the Gadgets 360 podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music, and anywhere you get your podcasts.