Update: The Nothing Ear 1 true wireless earbuds are the company's first product, which will be unveiled on July 27.
Last month, Carl Pei finally spilt the beans on Nothing, his new tech company which was funded by a bunch of familiar faces. Today, it added Google Ventures to its board.
Now known as GV, Google Ventures is Alphabet Inc.’s venture capital investment arm that funds upcoming tech companies at various levels. It has invested $15 million in Nothing as a part of Series A funding. The resources will be used to expand the team and operations, increase R&D expenditure and prepare for launch. Its first products will be unveiled in the coming months.
Tom Hulme, General Partner at GV said “Carl Pei is a seasoned entrepreneur with marketing, hardware, and distribution experience that is key to bringing new devices to market. His vision for smart devices is compelling, and we have high confidence that with Carl’s global mindset, the Nothing team will have a meaningful impact on the market for consumer technology.”
We are happy to announce that we have raised $15 million in a Series A funding round led by @GVteam propelling us forward on our journey. pic.twitter.com/s7ek851GzFFebruary 9, 2021
With GV onboarded, Nothing has managed to raise over $22 million. Other notable investors include YouTuber Casey Neistat, Tony Fadell, Kevin Lin, Steve Huffman, Liam Casey, Paddy Cosgrove and Josh Buckley. More recently, Cred’s Kunal Shah was onboarded as a part of the Series B funding at an undisclosed amount.
Interestingly, Nothing plans to allow its community and the general public to invest as part of its Series A round. Details on how this will be implemented will be shared in the coming weeks.
What the company will deal in continues to remain a mystery. The only thing that Carl had hinted was that Nothing wants to create smart devices and “create a seamless digital future”. He did mention that the products will have a rethought design with custom components to avoid homogeneity in the tech space, but that’s about it.
According to Bloomberg, Nothing's first product will be wireless headphones, which will be unveiled in Summer.
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