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Nothing, the well-known London-based tech start-up, has raised $200 million in series C funding, led by Tiger Global. The company is currently valued at $1.3 billion. This round was joined by other major investors such as Google Ventures, Highland Europe, Qualcomm Ventures, and Indian investor Nikhil Kamath.
As you are aware, Nothing is well-known for its stylish smartphones and transparent earbuds. While the recent round company claims to have made over $1 billion in sales since its inception.
Although Nothing has a very small share of the smartphone market, less than 1% globally, they perform quite well in India, holding up to 2% of the market share, demonstrating Indian buyers' interest in Nothing's smartphone.
The founder of Nothing, a former co-founder of OnePlus, stated that this new funding will be used to develop a completely new type of product, which they are calling an AI-driven product. While the goal of these products is not to replace mobile phones but rather to work alongside them.
Although the co-founder of Nothing stated that these products will use AI more efficiently to analyze the situation and adapt accordingly. While the co-founder of Nothing also stated that they are constantly working on an AI-based operating system that will extend beyond the phone.
When you look at the idea and results that the company is aiming for, it appears to be very exciting, but this task requires a significant amount of time and money, as well as advanced technology. While Nothing directly competes with larger brands such as Apple, Samsung, and Google, they are reportedly investing heavily in AI development.
On the other hand, Nothing's PRODUCT must not only be stylish but also be useful to the customer and provide a good value for money.
Instead of focusing on the risk, Nothing established a well-known brand in the market through its unique design and innovative ideas. While this new goal is similar to a new bid on AI, no one knows what will happen, but if it succeeds, nothing will change the perception of how people use mobile.
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