Tech Startup Nothing Pulls In $96 Million And Launches New Phone (2)

London company Nothing has raised $96 million in funding and a total of $250 million to date, allowing it to scale its business and release new devices.
Nothing was founded by Carl Pei to create innovative smartphone designs and experiences, launching Phone (1) in 2021 which won design awards for its transparent casing and sustainable materials.
Phone (2) aims to limit phone addiction and diversion by changing app interfaces, and Nothing plans to continue developing new phones and wireless earbuds.
Nothing's funding round was led by Highland Europe, whose partner Tony Zappala joins Nothing's board of directors.
The new capital will fund Nothing's expansion into the U.S. market to compete with major players like Apple, while also cutting costs to survive current economic conditions.