Smartphone startup Nothing has raised $200 million in Series C funding led by Tiger Global, increasing its valuation to $1.3 billion and setting the stage for further innovation in consumer technology.

Target Information

Nothing, a burgeoning smartphone startup, has successfully closed its Series C funding round, securing $200 million led by the prominent investment firm Tiger Global. This funding round elevates the company's valuation to $1.3 billion. Founded by Carl Pei, a co-founder of OnePlus—a brand recognized for its high-performance yet affordable devices—Nothing is focused on innovating within the consumer electronics space. The latest investment brings the total funding raised by Nothing to over $450 million, with backing from notable investors such as GV, Highland Europe, EQT, Latitude, I2BF, and Tapestry, along with new strategic partners including Nikhil Kamath and Qualcomm Ventures.

Industry Overview

The consumer electronics industry is witnessing rapid transformation, particularly in India, where innovative technology and design differentiation are crucial for capturing market share. With an increasing consumer demand for unique designs and advanced features, startups like Nothing are well-positioned to leverage these trends. Nothing has carved out a niche by focusing on distinct design aesthetics and user experience, appealing to a tech-savvy customer base looking for alternatives to established brands.

Despite currently holding less than 1% of the global smartphone market share, Nothing has achieved notable success in India, the company’s largest market, where it has secured a 2% market share. According to analytics firm IDC, Nothing has shipped a total of 5.1 million de