Last month, Carl Pei finally turned the tables on Nothing, his new tech company funded by a bunch of familiar faces. Today, he added Google Ventures to his board of directors.
Now known as GV, Google Ventures is the venture capital investment arm of Alphabet Inc. that funds upcoming technology companies at various levels. It has invested $ 15 million in Rien as part of a Series A funding. The resources will be used to expand the team and operations, increase R&D spending and prepare for the launch. Its first products will be unveiled in the coming months.
Tom Hulme, General Partner of GV, said: “Carl Pei is a seasoned entrepreneur with marketing, hardware and distribution experience that is essential to bringing new devices to market. His vision for smart devices is compelling and we are confident that with Carl’s global mindset, the Nothing team will have a significant impact on the consumer tech market.
We are happy to announce that we have raised $ 15 million as part of a Series A funding round led by @GVteam, which is propelling us in our path. pic.twitter.com/s7ek851GzFFebruary 9, 2021
With integrated GV, Nothing has managed to raise over $ 22 million. Other notable investors include YouTuber Casey Neistat, Tony Fadell, Kevin Lin, Steve Huffman, Liam Casey, Paddy Cosgrove, and Josh Buckley. More recently, Cred’s Kunal Shah was included as part of the Series B funding at an undisclosed amount.
Interestingly, Nothing plans to allow its community and the general public to invest as part of its Series A tour. Details on how this will be implemented will be shared in the coming weeks.
What the company will deal with remains a mystery. The only thing Carl had hinted at was that Nothing wants to create smart devices and “create a transparent digital future.” He mentioned that the products will have a redesigned design with custom components to avoid homogeneity in the tech space, but that’s about it.
According to Bloomberg, Nothing’s first product will be wireless headphones, which will be unveiled this summer.