Nothing Phone (2). | Image credit – PhoneArena
Nothing is set to make a big splash in 2025 with its first flagship smartphone. Along with that, leaks suggest the company has two more phones and a variety of audio gear in the works. To support this ambitious push, it’s reportedly looking to raise $100 million.A recent report reveals that Nothing is looking to secure at least $100 million in funding to scale up its operations, according to sources familiar with the situation.
This isn’t the first time Nothing has raised capital. In 2023, the company brought in $96 million from both new and existing investors, aiming to boost its presence in the US and roll out more smartphones. Now, it seems the company is aiming for another $100 million to back the launch of its first flagship phone.
The report also highlights that 2024 was a stellar year for Nothing, with the company doubling its annual revenue to surpass $500 million. Its total revenue from device sales has now exceeded $1 billion, and the company has shipped over 7 million units. These impressive results come despite the brand operating in just a few regions, including parts of Europe and Asia, with a limited footprint in the US – something that might not change for a while.
This year, Carl Pei‘s company is said to be focusing on increasing sales in markets outside the US, with plans for a stronger push into the US market by 2026. Additionally, the report suggests that Nothing is eyeing expansion into more product categories.On top of that, the company is now focused on revamping its software to bring in more AI features. These updates are expected to roll out in the first half of the year, and a chunk of its budget will likely go toward this.
Nothing phones run on an Android-based Nothing OS. | Image credit – PhoneArena
If Nothing wants to keep up, diving into AI is essential – after all, it’s hard to find a phone these days that doesn’t rely on AI. Galaxy phones have their Galaxy AI, Google’s Pixel phones are packed with AI, and even iPhones are getting Apple Intelligence (though only on a few models for now). So, it makes sense that Nothing is ready to invest heavily in AI, too.
Given how well Nothing has done, even in a tough climate for the smartphone industry, it’s hard to imagine the company having trouble securing the $100 million it’s looking to raise.
