News Summary

• Smartphone startup Nothing announced today that it closed its Series C round of $200 million.
• With this round, the consumer electronics company is now valued at $1.3 billion.
• The company, founded by Carl Pei — who previously co-founded Chinese smartphone maker OnePlus — also received new strategic backing from Nikhil Kamath and Qualcomm Ventures.
• The new funding takes Nothing’s total funding to over $450 million.
• Nothing has less than 1% market share globally, but in India, its biggest market, it has managed to grab 2% share.