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.
• Other investors in the round included existing backers such as venture outfits GV, Highland Europe, EQT, Latitude, I2BF, and Tapestry.
• The company, founded by Carl Pei — who previously co-founded Chinese smartphone maker OnePlus, known for high-performance devices at competitive prices — also received new strategic backing from Nikhil Kamath and Qualcomm Ventures.