Nothing, a London-based consumer technology brand, has raised £76 million in funding.

The company says it is creating an ecosystem of tech products for the young and creative which are also more sustainable.

In 2022, Nothing’s Phone (1) was showcased in Time Magazine’s ‘Best Inventions of 2022’ list for its innovative smartphone design. In 2023, Phone (1) received the renowned Red Dot Design Award, along with the rest of Nothing’s current product portfolio, including the true wireless audio devices Ear (2) and Ear (Stick). 

The company is gearing up to launch Phone (2) on July 11th, which it says features a lower carbon footprint than its predecessor as a result of the company’s ongoing sustainability initiatives.

The round was led by Highland Europe, with participation from existing investors GV (Google Ventures), EQT Ventures and C Capital, alongside house music supergroup Swedish House Mafia.

Nothing employs more than 450 people across seven offices worldwide.

Is Nothing the next big thing in consumer tech?

“In just over two years, we’ve assembled one of the strongest teams in the industry and sold over 1.5 million devices worldwide,” said Carl Pei, Nothing CEO and co-founder. 

“It’s clear that there’s real demand for an innovative challenger in the consumer tech industry, and with this new round of financing, we’ve never been better positioned to realise our vision to make tech fun again.” 

Highland Europe, a London-based venture capital firm focusing on high-potential technology companies, invested based on Nothing’s success to date and future potential. Partner Tony Zappalà led the recent round and will be joining Nothing’s board.

“We are thrilled to be partnering with Carl and his team, who share our vision of bridging technology with the younger generation,” added Tony Zappalà, partner at Highland Europe. 

“In an industry as challenging as this, it has been quite some time since a new company of this scale and ambition has reached this stage, given the difficulty and complexity of surviving in such a competitive environment. 

“We firmly believe that Nothing has something truly distinctive to offer, coupled with an exceptional team. We are enthusiastic about supporting Nothing as they take on the consumer tech giants and challenge the prevailing norms.”

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