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Nikhil Kamath invested $21 million in London-based tech company Nothing at $1.3 billion valuation
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Nothing raised $200 million in September to develop next phase Consumer AI technology
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Founded in 2020, Nothing became India’s fastest growing smartphone brand by 2024 with 577% YoY growth
Zerodha co-founder Nikhil Kamath invested $21 million in London-based technology company Nothing, marking one of the largest individual bets by an Indian entrepreneur in the consumer electronics space. This is a part of as part of the recent USD 200 million fundraise by the smartphone company.
Kamath said that the investment was done in the company at a valuation of USD 1.3 billion.
Nothing has recently announced securing USD 200 million in a funding round in mid-September primarily for the development of next phase Consumer AI technology at the company.
Kamath said that his criteria for investment in the company comprised design of the devices as it grabs attention, which gives it affordable premium positioning, utility factor, reputation of founder for his innovation capabilities.
Before starting Nothing, its founder Carl Pei was co-founder of OnePlus smartphones.
"Founded in 2020, Nothing had already become India's fastest scaling smartphone brand by 2024, with an impressive 577% YoY growth. By Q2 2025, it held the title for six quarters in a row, far outpacing its rivals," Kamath said in his presentation.
According to Counterpoint Research, Nothing clocked a 156% YOY growth in India, becoming the only smartphone brand to hold this title for six consecutive quarters, far outpacing its rivals.
In the last four years, Nothing has shipped millions of devices, beginning 2025 crossing over USD 1 billion in total sales.
Pei told PTI that Kamath joining Nothing signals a strong confidence in the brand's future.
"Nikhil joining us is a strong signal of confidence in what we're building with Nothing and CMF. He represents a new generation of Indian entrepreneurs who think long-term, move fast, and aim to create global impact - it's very exciting to have him on board. India has been central to Nothing's journey from day one," he said.
The company has formed a joint venture with Optiemus for manufacturing CMF brand devices of Nothing.
"Our recent USD 100 million manufacturing joint venture with Optiemus, along with our ambition to build CMF into India's first truly global smartphone brand, we've got big plans ahead. Having Nikhil as part of this journey will only accelerate that momentum," Pei said.
(With PTI inputs)
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