Nothing is furthering its plans for an expansion into the US market with a freshly secured round of funding. Nothing, which makes the Phone1 and is set to launch the Phone 2 on July 11, has yet to launch a phone in the US.
It would be a big leap for the company, but also a big step up. As the US market provides the company and its co-founder Carl Pei with an opportunity to land many more customers. According to a recent report from CNBC, Nothing has secured $96 million in funding to further its US expansion goals. The money likely won’t be used just for propping up Nothing’s US operations. Which Pei said earlier this year is “off to a good start.”
It is likely though that a majority of it will be for investment into the company’s US segment. As well as helping to launch the Phone 2 in the US. Which Nothing has already confirmed would be happening.
Nothing is “confident” the US expansion will help with the Phone 2 launch
Speaking to CNBC, Nothing co-founder Carl Pei says that he and the company are confident they’ll make headway with the launch of their first phone in the US market.
With the phone launching on July 11, Nothing will be looking to ramp up production. In a tweet on June 28, the company says it’s excited to scale its product and technology portfolio. This latest round of funding, Nothing confirms, was led by Highland Europe, with funding also coming in from GV, EQT Ventures, and Swedish House Mafia.
Swedish House Mafia has also collaborated with Nothing on creating a special Glyph ringtone sound pack for both the Phone 1 and Phone 2. It’s expected to be available for users later this year following the Phone 2 launch.
We’re excited to share that we’ve recently closed a $96M financing round, led by Highland Europe, with participation from @GVteam, @EQTVentures, C Capital and @swedishousemfia alongside others.
As we’ve just crossed 1.5M products sold, this marks a new milestone on our journey… pic.twitter.com/ObmJwUIHuh
— Nothing (@nothing) June 28, 2023
2023-06-29 15:13:00