Nothing, the hardware startup from OnePlus co-founder Carl Pei, raised $96 million from investors in a new round of funding to fuel an expansion of its business into the U.S. and the launch of its new smartphone. Nothing said it has now launched more than 1.5 million products to date. With another $96 million in the bank, the company plans to scale its operations further so that it can produce more products and ramp up sales. Nothing has launched three products to date — the Ear 1, Ear 2 and Ear Stick wireless earbuds, and the Nothing Phone, its first smartphone. Pei first disclosed plans to expand its business in the U.S. in December 2022, in an exclusive interview with CNBC.

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Persons: Carl Pei, Tony Zappala, Pei Organizations: OnePlus, Highland, GV, EQT Ventures, C Capital, Swedish House Mafia, Qualcomm, CNBC Locations: London, Highland Europe, U.S