What you need to know
- Nothing has partnered with Qualcomm to build new product categories powered by the Snapdragon platform.
- Carl Pei's startup has also raised $50 million in a new round of funding from investors.
- The new alliance may herald Nothing's foray into the smartphone race.
Nothing, a startup founded by OnePlus co-founder Carl Pei, has found a new backup to power its future tech products. The firm announced that it has formed an alliance with Qualcomm and raised $50 million from investors in a Series A funding extension.
The new partnership allows Nothing to build new product categories by tapping into Qualcomm's Snapdragon platform, which powers some of the best Android phones. Nothing didn't share specific details about its upcoming products, but Qualcomm's Enrico Salvatori may have hinted at what's in the pipeline. The company's senior vice president and president of Qualcomm Europe said:
Nothing is likely to make inroads into the smartphone market, though this remains speculative for the time being. The latest financing will be used to fund research and development efforts for its future product ecosystem. Pei said:
Reuters reports that Nothing's investors include Tony Fadell, who invented Apple's iPod, as well as GV (formerly Google Ventures),Twitch co-founder Kevin Lin, and Reddit CEO Steve Huffman.
The company also took the chance to share the latest milestone for its Nothing ear (1) earphones. Two months after unveiling the product, Nothing was able to ship more than 100,000 units of the truly wireless earbuds worldwide.
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Jay Bonggolto always keeps a nose for news. He has been writing about consumer tech and apps for as long as he can remember, and he has used a variety of Android phones since falling in love with Jelly Bean. Send him a direct message via Twitter or LinkedIn.