Nothing, the popular consumer technology brand on Tuesday said film producer and director Karan Johar, cricketer Yuvraj Singh and others had joined as investors as a part of its $50 million funding round announced last month. In October, Nothing had completed a series-A extension of $50 million from strategic and private investors. It had not disclosed the name of the investors at that time. Fashion designer Sabyasachi Mukherjee had also joined as investors, the company said.
Digital content creator and entrepreneur Ranveer Allabadia and Bollywood and independent music composer and singer Jasleen Royal had also come on board as backers of Nothing’s vision, it added.
“The market is overdue for a new player to bring passion back to the field of consumer tech; one that celebrates artistry and hopes to organise our digital life in one connected space. We are excited that our new strategic and private investors from India feel the same and believe in our vision and mission,” Nothing India Vice-President and General Manager Manu Sharma said,” said Manu Sharma, vice president and general manager of Nothing India, quoted PTI.
In 2021, Nothing launched one of the most anticipated tech products of the year, Nothing ear (1) and we assure you, this is just the beginning, he further added.
Nothing has so far raised a total of $74 million. In December last year, the company had raised $7 million in seed financing from prominent investors, including Tony Fadell (inventor of the iPod), Casey Neistat (YouTuber), Kevin Lin (co-founder of Twitch) and Steve Huffman (CEO of Reddit). It raised $15 million from GV (formerly Google Ventures) in February this year.
The London-based company, which is backed by Indian entrepreneur Kunal Shah, was co-founded by OnePlus co-founder Carl Pei. According to research firm Counterpoint, Nothing broke into the top-three brands in the premium TWS (Truly Wireless Stereo) segment in its debut quarter by capturing a seven per cent share in the segment in the September 2021 quarter.