London consumer tech company pockets $70m to funnel into product design

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Wednesday March 09, 2022 2:45 p.m.

Carl Pei’s firm Nothing has landed $70 million to expand its product line

London-based headphone maker Nothing today bagged $70 million in funding to funnel into product development as it opens a new design center in the capital.

Nothing, which released its first product in August 2021, now plans to expand its product range beyond earbuds by opening the new Design Center led by former Dyson chief design guru Adam Bates.

The $70 million funding round was led by EQT Ventures and C Ventures and backed by iPod co-inventor Tony Fadell, bringing Nothing’s total capital raised to over $144 million.

Founder Carl Pei said he is now looking to accelerate the company’s growth.

“I am grateful for the support from our community and investors,” he said. “Our first year has been a warm-up, and we can’t wait to reveal what we’re building at Nothing.”

Bates will now lead the next stage of the company’s product development from its London hub, and Pei plans to unveil the company’s plans for the year this month.

C Ventures founder Adrian Cheng said Nothing’s products are disrupting the consumer technology market.

“For too long, the consumer tech industry has been dominated by the same players, giving customers uninspiring and stuffy products,” he said.

“Nothing represents a bright, new future – combining innovative design with carbon neutrality and a forward-thinking approach to help us all reinvent the way we use and interact with our technology.”

Nothing’s carbon-neutral wireless headphones have shipped over 400,000 units since their launch in August last year.

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