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Nothing Raises $200M Series C to Power the Next Phase of Consumer AI

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Nothing Phone (3) aesthetic shot

Today, we’re announcing new funding––USD $200M in our Series C round at a USD $1.3B valuation. This milestone marks the start of our next phase: From being the only independent smartphone company to emerge in the last decade, towards building an AI-native platform in which hardware and software converge into a single intelligent system.

a portrait of Carl Pei, CEO and Co-founder of Nothing
Carl Pei, CEO and Co-founder of Nothing

Building the foundations for the future
When we started Nothing, we had a thesis that if we could build a smartphone business at scale and own the last-mile distribution point in consumer tech, we would be well-positioned for the next technology shift. Although we didn’t know what that would look like at the time, the opportunity is now crystal clear.

From the start, we knew that the foundation had to be an end-to-end value chain
capable of delivering products at speed, scale, and quality. As we’ve seen from many others that have tried, building a hardware company is hard. There are many potential failure points and almost no room for error. For us, it required assembling a team that balanced a pragmatic approach of rapidly launching products, with an innovative mindset to deliver experiences that our community would immediately love.

Today, the foundations are firmly in place. From award-winning design, to our global manufacturing and supply chain network built for quality and cost. In four years, we have shipped millions of devices, began 2025 crossing $1B+ in total sales, while growing 150% in 2024.

Building this infrastructure has been the hardest and most valuable thing we’ve done so far. With the support of our community, we’re fortunate to have made it here. Today, we’re in a position that will be very hard to copy: The ability to launch any consumer hardware product from start to finish within months, go-to-market operations that can ship and service worldwide, a global user community that co-creates with us, all without the innovator’s dilemma or bureaucratic constraints that the incumbents face. On to chapter 2.

Operating systems, evolved
In the last 18 years, the smartphone became ubiquitous. It is the primary personal computing tool to manage the countless tasks of daily life. Beyond its distribution scale, what makes the smartphone the most powerful consumer device in the market is its unmatched access to contextual information and user knowledge. For this reason, I believe the smartphone will remain one of the most important devices in the AI era.

On the other hand, while AI has made revolutionary progress in the last three years, the smartphone experience has barely evolved. Most of the innovation has been underwhelming, limited to incremental improvements in photo editing, translations, and assistant features that barely work.

For AI to reach its full potential, consumer hardware must reinvent itself alongside it. This is the opportunity we see for Nothing. We see a future where operating systems are significantly different from the ones today. Each system will know its user deeply, and be hyper-personalised to each individual. Interfaces will adapt to our context and needs. Suggestions will surface naturally, and once we confirm an intent, agents will execute on our behalf. The system will handle the non-essential for us, allowing us to focus on what truly matters, which will be different for every person. Unlike today’s one-size-fits-all solution, a billion different operating systems will be rendered for a billion different people.

Over time, this OS will be transversal across all form factors: We’re starting with smartphones, audio products and smart watches, devices that people already use every day. In the future, our OS will carry into smart glasses, humanoid robots, EVs, and whatever comes next.

Why we are uniquely-positioned to create this future: Owning the last-mile distribution point with all its contextual and user knowledge is essential to developing an OS that will help people in their daily lives. An AI OS that doesn’t know its user and isn’t ever-present can’t deliver a hyper-personalised experience. This is the next chapter for Nothing, integrating an AI experience into our hardware devices to reinvent how technology amplifies us.

The next billion unit scale product
In the near-term, we believe that the smartphone will remain the only device shipping at billion-unit scale each year. But soon, we’ll all be carrying an additional device that will be just as important. In the coming years, we’ll learn that the more context we can feed our AI, the more useful it becomes. The smartphone, while powerful, can’t always be there for us. Sometimes it’s in our pocket, or we might be on the move with our hands full.

A new class of AI-native devices will emerge. Products that are available to the user at the moment of need, paired with intelligence that turns understanding into action. This is a very exciting time, imagining devices that capture context across modalities and generate interfaces on demand, shaped by what the user is trying to accomplish.

We have been hard at work imagining what this future could look like, and can’t wait to launch some of our first AI-native devices next year.

Our Series C capital raise
This funding round allows us to execute on this vision by accelerating our innovation roadmap and further scaling our distribution. Our round was led by Tiger Global, with significant support from existing shareholders GV, Highland Europe, EQT, Latitude, I2BF, and Tapestry, alongside new strategic backing from Nikhil Kamath and Qualcomm Ventures.

Alongside this Series C, we’re also preparing to launch our next Community round giving our supporters another opportunity to become part of Nothing’s journey. More details will be shared soon.

As we continue our journey, we do so with huge gratitude to our community, our team, and our partners. This next chapter is only possible because of you.

Carl, CEO and Co-founder of Nothing

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PNY STRENGTHENS ITS TEAMS IN THE MIDDLE EAST AND SAUDI ARABIATO SUPPORT STRATEGIC GROWTH

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PNY today announces the reinforcement of its commercial and marketing teams across the Middle East, with a particular focus on Saudi Arabia, a key strategic market for the expansion of its professional and consumer solutions businesses.

These recruitments are designed to support the acceleration of PNY’s expanding business around AI Factory initiatives and large-scale datacenter deployments. By strengthening its capabilities across computing, networking, storage, the full software stack, and the integration of NVIDIA and Vertiv solutions, PNY is positioning itself to deliver scalable, reliable end-to-end infrastructures that meet the evolving needs of enterprises as well as public and governmental organizations investing in AI and high-performance computing.

To support this growth strategy, PNY announces several key appointments:

Hashem Abughazaleh joins PNY to lead Professional Solutions Sales.
A seasoned Business Development and Enterprise Sales leader, Hashem brings over 15 years of experience across the Middle East and GCC. He has led high-level partnerships, defined enterprise sales strategies, and managed full solution lifecycles—from partner onboarding and technical customization to delivery.

Abdullah Algahyadh is appointed to drive the expansion of PNY’s presence in Saudi Arabia.
Born and raised in Riyadh, Abdullah holds a Bachelor’s degree in Business Information Systems and a Master’s degree in Entrepreneurship and Innovation Management from Middlesex University. His professional background includes business development, account management, and IT consulting. Abdullah brings strong local market knowledge and will play a key role in strengthening PNY’s footprint in the Kingdom.

Mohammed Hamdouche will lead the development of local marketing activities.
His background sits at the intersection of business, marketing, and technology, shaped by experience in large, tech-driven organizations across MENA markets. He brings expertise in digital marketing, with a strong interest in AI-driven technologies. Mohammed will actively support the growth of consumer solutions (a complete ecosystem of NVIDIA® GeForce® graphics cards, SSD components, and memory modules), storage ranges (USB flash drives and memory cards), as well as professional solutions.

“With these strategic hires, PNY is reinforcing its commitment to the Middle East and Saudi Arabia. We are strengthening our proximity to partners and customers, while helping them embrace innovative technologies to meet the region’s growing needs in digital transformation, AI, and high-performance computing.” –  Jérôme Bélan, CEO at PNY Technologies EMEA

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ACCELERATING AI ADOPTION IN HEARING HEALTH CRITICAL TO SUPPORTING PATIENTS WITH HEARING LOSS IN UAE

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Starkey MEA speaker presenting Omega AI hearing technology to audiologists and industry professionals during a conference session in Dubai.

Drawing on feedback from patients across the globe, Starkey highlighted that accelerating AI adoption in hearing health is already transforming daily life for people with hearing challenges, improving how they hear, connect and participate with greater confidence. Starkey addressed UAE’s leading audiologists, clinic owners and industry stakeholders from across the Middle East and Africa, led by Dr. Achin Bhowmik, Chief Technology Officer and Executive Vice President of Engineering.

The session focused on Starkey’s blueprint for AI-led hearing performance for patients in UAE and wider Middle East region, anchored by Omega AI, and detailed how the platform is advancing real-world speech clarity in challenging noisy environments, listening comfort and spatial awareness today, while setting the architecture for next-generation sound processing.

“At Starkey, sound quality is always, and will remain, job number one. Hearing is essential for how people connect, work, and participate in everyday life. When people delay action, outcomes suffer and quality of life and cognitive ability can decline unnecessarily,” said Dr. Achin Bhowmik, Chief Technology Officer and Executive Vice President of Engineering, Starkey. “Omega AI is built to bring people closer to natural hearing in real environments, using an industry-first 360-degree deep neural network processing and generative AI designed to dynamically adapt as listening conditions change and assist the patient in all environments. Hearing aids are high tech multifunction devices.   The next step is accelerating adoption, so these capabilities reach more patients in the UAE who can benefit from them.”

During the session, Starkey highlighted how Omega AI advances the shift from conventional amplification toward intelligent hearing systems designed for clarity, comfort and usability. Omega AI includes new connectivity features including Auracast assistant and Google Fast Pair, fall detection and a special AI assistant.  Starkey is setting the new standards for the industry.

The briefing took place against a backdrop of hearing loss emerging as a major global health and societal challenge. The World Health Organization projects that by 2050, nearly 2.5 billion people will have some degree of hearing loss, with more than 700 million expected to require hearing rehabilitation. The WHO also estimates the annual global cost of unaddressed hearing loss at almost US$ 1 trillion, reinforcing why prevention, early checks, and access to care matter.

The roadmap also emphasized connectivity and ecosystem design, including features intended to reduce friction for wearers, support faster fitting and follow-up, and enable a smoother clinical experience for hearing care professionals.

“Audiologists and clinic leaders in the Middle East, Africa and Turkey can rest assured that the new OMEGA AI platform will give them confidence and speed in treating their patients,” said Giscard Bechara, Director, Starkey MEA. “This briefing was designed to align the professionals on a larger point – hearing care is the need of the hour. Starkey has the technology today to service our patients better than any time before and we will waste no effort to educate and bring it here to our patients in the UAE and the Middle East.”

Starkey Middle East and Africa will continue engaging hearing care professionals and partners through professional education, technology briefings and clinical enablement initiatives, supporting evidence-based hearing care practices and helping translate the latest hearing innovation into improved patient outcomes.

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NEMETSCHEK GROUP AND INGRAM MICRO PARTNER TO ACCELERATE DIGITAL TRANSFORMATION ACROSS THE MIDDLE EAST AND NORTH AFRICA REGION

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Three executives stand behind a table holding a signed document folder during a Nemetschek Group and Ingram Micro partnership announcement event, with branded backdrop and floral arrangement in front.

The Nemetschek Group, one of the world’s leading software providers for the Architecture, Engineering, Construction and Operations (AEC/O) industry, announced a strategic partnership with Ingram Micro, a business-to-business (B2B) platform company for the global technology ecosystem, to jointly explore new business opportunities and accelerate digital transformation across the Middle East and North Africa (MENA).

The strategic partnership brings together Nemetschek’s cutting-edge software portfolio with Ingram Micro’s extensive regional reach, ecosystem enablement capabilities and deep market expertise. As part of the collaboration, both companies will work closely on joint market development initiatives, including coordinated marketing campaigns, industry events and customer engagement activities aimed at increasing awareness and adoption of Nemetschek’s solutions across the region. The collaboration also outlines a strong focus on sales enablement and training, equipping Ingram Micro’s teams with the technical, product and commercial expertise required to effectively promote, demonstrate and support Nemetschek technologies.

In addition, the partnership will support customers throughout their digital transformation journey through pre-sales collaboration, post-sales support and long-term account growth strategies. It is designed as a progressive onboarding framework, with Ingram Micro expected to be gradually onboarded across Nemetschek’s portfolio on a brand-by-brand basis as the partnership evolves.

Yves Padrines, Chief Executive Officer of the Nemetschek Group, noted that partnerships are a cornerstone of Nemetschek’s strategy to scale innovation and drive digital transformation globally. “The Middle East and North Africa region offers immense opportunity, defined by ambitious infrastructure programs and a clear commitment to digitalization. By collaborating with Ingram Micro, we are strengthening our ability to deliver open, connected and future-ready solutions that empower our customers to design, build and operate more efficiently and sustainably.”

Commenting on the partnership, Muayad Simbawa, Managing Director of Nemetschek Arabia, said: “This collaboration represents a strategic step forward in our mission to enable meaningful digital transformation across the built environment in the Middle East and North Africa. Ingram Micro’s strong regional footprint, ecosystem-driven approach and proven ability to scale technology adoption make them an ideal partner as we continue to empower architects, engineers and construction professionals with innovative, open and interoperable solutions. Together, we are laying the foundation for a more connected, efficient and sustainable future for the industry.”

Shaikh Mohammed Ahmed, Managing Director, Ingram Micro KSA, added: “At Ingram Micro, we see digital transformation as a collaborative journey built on strong partnerships and shared expertise. Our collaboration with Nemetschek reinforces our commitment to enabling our customers and partners with world-class technologies that address the evolving needs of the AEC sector. By combining Nemetschek’s industry-leading solutions with our regional capabilities and enablement services, we aim to unlock new growth opportunities and deliver tangible value across the MENA region.”

Ingram Micro is a leading global technology distributor and services provider, playing a critical role in the IT ecosystem by connecting technology manufacturers with solution providers and end customers. Through its extensive portfolio, digital platforms and value-added services, Ingram Micro enables businesses to scale, innovate and transform in an increasingly digital world.

The partnership underscores both companies’ shared vision of driving innovation, accelerating technology adoption and supporting regional ambitions for smarter infrastructure, sustainable development and digitally enabled economies.

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