Carl Pei’s Nothing to Host Product Roadmap Announcement on March 23, Raises Additional $70 Million

Nothing is tipped to launch its first phone as early as April.

By Jagmeet Singh | Updated: 10 March 2022 10:49 IST

Carl Pei’s Nothing to Host Product Roadmap Announcement on March 23, Raises Additional $70 Million

Photo Credit: Nothing

Nothing started its journey with the Ear 1 TWS earbuds last year

Highlights

Nothing is hosting its virtual event later this month
Carl Pei said that the first year of his venture was just a “warmup”
Nothing’s phone could come with a transparent design element

Nothing, the UK-based company owned by OnePlus Co-Founder Carl Pei, is hosting a virtual event on March 23 where it will announce its product roadmap for the year. Although the formal details about the event are yet to be revealed, the company is speculated to announce its plans to step into the smartphone market. Nothing also announced a new $70 million (roughly Rs. 534 crore) funding round that was led by venture capital firms EQT Ventures and C Ventures.

Called “The Truth,” the virtual event by Nothing will be held at 2pm GMT (7:30pm IST). Attendees can sign up for getting notifications about the event on the company's website.

“Our first year was a warmup, and we can't wait to reveal what we're building at Nothing during the upcoming event,” Nothing CEO and Co-Founder Carl Pei said in a press statement.

Nothing is tipped to launch its first phone in April that could feature a transparent design. The Nothing phone was teased by Pei in cryptic tweets last month. The executive was also seen showing off a phone to Qualcomm CEO Cristiano Amon in a photo that was tweeted by tipster Evan Blass.

Nothing to see here. pic.twitter.com/mzLeTVHSXm
— Ev (@evleaks) March 7, 2022

The latest funding round, which also saw participation from GV, Tony Fadell's Future Shape, Gaorong Capital, and Animoca Brands, is aimed to scale the product ecosystem and establish 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). Exact valuation of the company has not yet been revealed, though.

Nothing said 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 notably known for powering Android smartphones.

Last year, Nothing started its journey as a tech company by launching the Ear 1 true wireless stereo (TWS) earbuds. The company claimed that it shipped over 400,000 units of the earbuds to date. It gained consumer attraction mainly due to its transparent design that would soon be seen on its phone.

In February last year, Nothing acquired Essential — the smartphone brand that was established by Android creator Andy Rubin and launched its single phone in 2017.

What should you know about MWC 2022? We discuss this on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.

Affiliate links may be automatically generated - see our ethics statement for details.

Comments

For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.