Smartphone maker Nothing raises $200 million to build AI Devices

Nothing Technologies Ltd., a smartphone maker founded just five years ago, has raised $200 million to try and develop the next generation of AI-native devices.

The Series C financing round was led by Tiger Global, with support from existing backers GV, Highland Europe, EQT, Latitude, I2BF and Tapestry. New strategic backers included Qualcomm Ventures and Zerodha’s Nikhil Kamath, the company said in a statement.

Now valued at $1.3 billion, the startup aims to carve out a role in creating AI-era consumer electronic devices, co-founder Carl Pei said in a message posted to its website on Tuesday. It’ll start with phones, watches and audio products before moving on to smart glasses, humanoid robots and electric vehicles.

“For AI to reach its full potential, consumer hardware must reinvent itself alongside it,” Pei wrote. “Unlike today’s one-size-fits-all solution, a billion different operating systems will be rendered for a billion different people.”