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Carl Pei’s Nothing raises $50 mln, partners with Qualcomm

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STOCKHOLM, Oct 13 (Reuters) – Technology firm Nothing, based by OnePlus co-founder Carl Pei, on Wednesday stated it has raised $50 million from strategic and personal traders, and has partnered with U.S. chipmaker Qualcomm (QCOM.O).

The firm launched its first system – a clear earbud that comes with energetic noise cancellation and a retail worth of $99 – in August and offered greater than 100,000 of these within the first two months.

A tie-up with Qualcomm, whose chips are current in a variety of units from automobiles to telephones, would assist Nothing to construct future merchandise.

“The successful launch of our first product, ear (1), proved that there is room for a new challenger brand to emerge and disrupt today’s sea of sameness,” CEO Pei stated in an announcement.

UK-based Nothing’s backers embody GV, Tony Fadell, designer of Apple Inc’s iPod, Twitch co-founder Kevin Lin and Reddit CEO Steve Huffman. It had raised $15 million in a Series A spherical led by GV, previously Google Ventures, in January.

Reporting by Supantha Mukherjee, European Technology & Telecoms Correspondent, primarily based in Stockholm, Editing by Louise Heavens

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