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Carl Pei’s Nothing to Host Product Roadmap Announcement March 23rd Raises Additional $70M

Nothing, the UK-based company owned by OnePlus co-founder Carl Pei, is holding a virtual event on March 23 to announce its product roadmap for the year. Although official details about the event have yet to be revealed, the company is expected to announce its plans to enter the smartphone market. Nothing also announced a new $70 million (roughly Rs. 534 crore) funding round led by venture capital firms EQT Ventures and C Ventures.

The virtual event titled “The Truth” by Nothing will take place at 2:00 pm GMT (7:30 pm EDT). Participants can register to receive notifications about the event on the company’s website.

“Our first year has been a warm up and we can’t wait to show what we’re building at Nothing during the upcoming event,” Nothing’s CEO and co-founder Carl Pei said. in a press statement.

No one is going to release their first phone with a transparent design in April. Last month, Pei teased the Nothing phone in cryptic tweets. The executive was also seen showing off Qualcomm CEO Cristiano Amon’s phone in a photo posted by whistleblower Evan Blass on Twitter.

The latest round of funding, which also included GV, Tony Fadell’s Future Shape, Gaorong Capital and Animoca Brands, aims to scale the product ecosystem and create the London Design Hub, the company said in a press statement.

With the latest investment, Nothing has raised a total of $144 million (roughly Rs. 1,100 crore). However, the exact value of the company has not yet been disclosed.

There was no indication that it would use the funding to create new product categories in partnership with Qualcomm Technologies and its Snapdragon platform. The San Diego-based company and its Snapdragon chips are especially known for running Android smartphones.

Last year, Nothing kicked off as a tech company with the launch of the Ear 1 True Wireless Stereo Headphones (TWS). The company said it has shipped more than 400,000 headphones to date. He caught the attention of consumers mainly due to his transparent design, which was soon seen on his phone.

Last February, Nothing acquired Essential, a smartphone brand founded by Android creator Andy Rubin that launched its only phone in 2017.

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Jagmeet Singh writes about consumer technology for Gadgets 360 from New Delhi. Jagmeet is a Senior Correspondent for Gadgets 360 and writes frequently on applications, computer security, internet services and telecommunications developments. Jagmeet is available on Twitter at @JagmeetS13 or email [email protected] Please send your recommendations and advice. More

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