Carl Pei's new venture Nothing will launch its first products in the coming months, the company said in a statement today while announcing the development over $15 million funding from GV (formerly Google Ventures) - a venture capital arm of Google's parent Alphabet. The UK-based company adds that the latest funding will enable it to expand its team and operations and further invest in Research and Development (R&D). The new round takes the total amount of financing that 'Nothing' has raised to over $22 million. Previous investors include notable tech leaders and investors such as CRED founder Kunal Shah, Kevin Lin who is co-founder of Twitch, Steve Huffman who is the CEO at Reddit, and Tony Fadell who is Principal at Future Shape and is also known as the inventor of the iPod and the co-inventor of the iPhone.
We still do not know at this time what Carl Pei's next big venture is be all about, though he has teased that it'll be around music and audio space. Nothing is also said to focus on hardware that includes smartphones, though the exact details remain unclear. In the latest statement, Nothing notes that the company plans to open up for its community so that the general public can invest as part of its Series A round. Speaking about the $15 million investment into Pei's next venture, Tom Hulme, General Partner at GV said, "His vision for smart devices is compelling, and we have high confidence that with Carl's global mindset, the Nothing team will have a meaningful impact on the market for consumer technology."
We are happy to announce that we have raised $15 million in a Series A funding round led by @GVteam propelling us forward on our journey. pic.twitter.com/s7ek851GzF — Nothing (@nothing) February 9, 2021
It was late last year that Carl Pei left OnePlus, after nearly seven years at the company. It was during Pei's time at OnePlus that the company launched a series of notable Android phones - from the original OnePlus phone to the late OnePlus 8T. It is also believed that the mid-range Android phone, the OnePlus Nord's development was closely tracked by Pei. The new tech venture, the name for which wasn't known so far, was created in October last year. The company insists that its approach is to start from scratch and "rethink everything." The company says it will bring back artistry, passion and trust to the field of consumer technology with Nothing this year.