In the wake of the July 31 launch of its first product, the Ear (1), Nothing at the moment introduced a “Series A Extension” of $50 million, bringing its whole funding to $74 million so far. The spherical follows the February announcement of a $15 million Series A.
Shortly after that, Nothing introduced a $1.5 million equity round geared toward tapping into the sense of group that founder Carl Pei’s former firm, OnePlus, had lengthy prided itself in creating. Nothing hasn’t revealed the names this spherical, although the Series A was led by GV and featured a lot of non-public traders, together with Tony Fadell, Casey Neistat, Kevin Lin and Steve Huffman.
The new funding will likely be used for “research and development in preparation for the brand’s entry into new product categories as part of its ecosystem,” per Nothing. As Pei told us earlier this year, “We have a lot of products in the pipeline.”
The different information this morning is a “collaboration” with Qualcomm. Specifically, it’s the announcement that Nothing will use Snapdragon chips in future gadgets.
“Seamless connectivity is paramount to achieving our vision of a future without barriers between people and technology,” Pei mentioned in a launch. “We look forward to working alongside Qualcomm Technologies and our strategic investors to achieve Nothing’s next phase of growth.”
Nothing lately introduced that its earbuds shipped greater than 100,000 models of their first two months. The firm has additionally lengthy hinted extra merchandise, although it has but to supply up extra data. Qualcomm’s Snapdragon line is used to energy a broad vary of merchandise, from wearables to laptops, although telephones have at all times been the guts of the road.
Qualcomm has little doubt been smarting as corporations like Apple and Google have labored to construct their very own chips internally.