Nothing continued a march towards expanding into more product categories, unveiling a collaboration with Qualcomm alongside fresh funding of $50 million to boost R&D.
In a statement, Nothing founder and CEO Carl Pei explained the Qualcomm deal was a key element in a strategy to propel the device maker’s next phase of growth and capitalise on what he branded a successful launch of its first device [1], the Ear 1 bud.
Pei stated Ear 1 bud shipments exceeded 100,000 since the wearable went on sale in August, a statistic he believes proves there is “room for a new challenger brand to emerge and disrupt today’s sea of sameness”.
He highlighted seamless connectivity as “paramount” to achieving a future “without barriers between people and technology”.
Enrique Salvatore, SVP and president of Qualcomm EMEA, added the combination of 5G connectivity with Snapdragon mobile platforms was delivering products offering “richer, more immersive experiences”.
Nothing’s latest funding involved strategic and private investors, with the pot set to finance its entry to new product categories.
The company previously raised $15 million [2] in a round led by Alphabet’s GV, and also made $1.5 million-worth of shares available to the public [3].
[1] https://www.mobileworldlive.com/devices/news-devices/nothing-device-debut
[2] https://www.mobileworldlive.com/devices/news-devices/alphabet-looks-to-get-a-tune-out-of-nothing
[3] https://www.mobileworldlive.com/featured-content/devices-home-banner/nothing-seeks-cash-from-community
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