Nothing on Wednesday introduced that it had accomplished a Sequence A extension funding of $50 million (roughly Rs. 376.20 crores) from strategic and personal buyers together with Swedish DJ duo Axel and Christofer Hedfors and Sebastian Ingrosso. The London-based firm led by OnePlus Co-Founder Carl Pei additionally introduced its partnership with Qualcomm Applied sciences to make use of its Snapdragon platform for powering future tech units. Nothing began its journey by introducing the Ear 1 true wi-fi stereo (TWS) earbuds earlier this yr.
The funding can be used in direction of analysis and improvement (R&D) in preparation for Nothing’s entry into new product classes, the corporate mentioned in a press release.
Nothing has not revealed particulars about its subsequent providing but. Nevertheless, the corporate prompt that it might broaden its product lineup by including new linked units by its partnership with Qualcomm.
“Seamless connectivity is paramount to reaching our imaginative and prescient of a future with out obstacles between individuals and expertise,” mentioned Carl Pei, CEO and Co-Founding father of Nothing. “We look ahead to working alongside Qualcomm Applied sciences and our strategic buyers to attain Nothing’s subsequent section of progress.”
Qualcomm has a variety of Snapdragon chipsets that Nothing would be capable of use to allow wi-fi connectivity on its future units. It’s, although, unclear whether or not the younger firm is able to enter the fast-growing smartphone market immediately or has plans to deliver some Web of Issues (IoT) units within the preliminary stage.
“We’re excited to assist Nothing deliver to life its extremely anticipated ecosystem of tech merchandise,” mentioned Enrico Salvatori, Senior Vice-President and President, Qualcomm Europe/MEA. “By combining the facility and effectivity of Snapdragon cellular platforms with 5G connectivity throughout many various classes of units, we’re fostering the event of progressive merchandise which can be meant to learn shoppers and ship richer, extra immersive experiences.”
Carl Pei left OnePlus final yr to start out Nothing as his new enterprise. In July, the corporate introduced the Nothing Ear 1 as its first gadget. The earbuds supply an eye-catchy clear construct alongside providing options akin to energetic noise cancellation and cross-platform assist.
Within the two months since their sale started, the Nothing Ear 1 earbuds have surpassed world shipments of 100,000 models. Additionally they acquired a worth reduce throughout the latest Flipkart Huge Billion Days sale.