In the wake of the July 31 launch of its first product, The Year (1), Nothing today announced a $50 million “Series A extension,” bringing its total funding to $74 million. The round follows the Series A announcement of $15 million in February.
Soon after, Nothing announced a $1.5 million equity round, aimed at harnessing the community spirit that founder Carl Pei’s former company, OnePlus, had long taken pride in developing. Nothing has been disclosed of the names of this round, although Series A was led by GV and included a number of private investors, including Tony Fadell, Casey Neistat, Kevin Lin and Steve Huffman.
The new funding will be used for “research and development in preparation for the brand’s entry into new product categories as part of its ecosystem,” per se. As Pei told us earlier this year, “we have a lot of products in the pipeline.”
The other news this morning is the “collaboration” with Qualcomm. Notably, there is the announcement that nothing in future devices will use Snapdragon chips.
“Seamless connectivity is paramount to achieving our vision of a future without barriers between people and technology,” Pei said in a release. “We look forward to working with Qualcomm Technologies and our strategic investors to achieve the next stage of growth with nothing to do.”
Nothing has been announced recently given that its earbuds have shipped over 100,000 units in their first two months. The company has long indicated additional products, though has yet to offer further details. Qualcomm’s Snapdragon line is used to power a wide range of products from wearables to laptops, although phones have always been the heart of the line.
There’s no doubt that Qualcomm is getting smarter as companies like Apple and Google work to build their own chips internally.