The smartphone startup today announced that it shut down its series C Round of $ 200 million, headed by the investment firm Tiger Global. With this round, the value of the consumer electronics company is now $ 1.3 billion.
Other investors in the round included existing backers such as Venture outfits GV, Highland Europe, Equity, Latitude, I2BF and Tapestry. The company, established by Carl Pei-was also co-establishing the Chinese smartphone manufacturer OnePlus known for high-performing devices at competitive prices-Kar Nikhil Kamath and Qualcomm Ventures also received new strategic support. Takes new funding Nothing did the total amount More than $ 450 million.
“Carl and the team have nothing, starting hardware and software with AI overlays for the position of their products for the next era of personal technology. We are excited to partner with this extraordinary team, as they carry forward AI-foreign experiences,” Tiger Global’s partner Global said by a part Walker, in a statement.
The company said it would soon open another community funding round. The company raised a total of $ 11.5 million in the previous community.
The company has so far bet on design discrimination, and it has served startups well. Nothing states that it was more than $ 1 billion in total sales earlier this year. In the startup, a initial investor told Techcrunch that he was happy with the road for the company’s development trajectory and profitability.
Startup stated that until this point, it has spent time in the construction of a supply chain and infrastructure to launch a product within months and ship it worldwide. In particular, its recently launched phone (3) – which shows the company’s signature transparent design beauty and unique user interfaces – only had its second handset to get to receive. General distribution in america,
According to analytics firm IDC, there is nothing that is less than 1% market share at globally, but in India, its largest market, it has managed to grab a 2% share. The company has sent 5.1 million units to date, the company has shipped more than one million units in Q2 2025. The IDC said its global expansion has slowed down as 80% of units are still sold in Asia.
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PEI has said that it wants to target its brand towards the next generation of users who may seek option beyond incumbents.
He said, “The way we have separated our brand and differentiated our products, it is really resonating with our group of consumers. We are targeting the next generation. They are interested in technology. They are interested in creativity and design, and we have really found resonance between that consumer group,” they described during techcrunch. Phone (3) launch In July.
Highland Europe partner Tony Zappala, who is an existing investor in the company, said the company has distributed on its promises and there is a place to grow in this huge industry. He said that now there is nothing recognized in the industry, which have their own advantages in terms of attracting talent and building a supply chain relationship.
AI vision
The company wants to build an operating system with AI and personalization facilities that can be beyond the smartphone. Currently, we have only seen some glimpse of AI in the operating system Characteristics like required discoveryA smart search function that helps users find information in their devices. Startup has hired former Executive Celeem Benayat of Linnary and Bento founder and Bento founder (a platform that creates a personal landing page for social media profiles), to lead its AI services efforts.
Zappalà said that the challenge in building such an operating system is both a customer experience and a trust issue.
“I think the challenge of building an effective AI-first experience is nothing. It is more than a technical challenge; AI features need to reach a platform where users are not double-checked,” he said.
Companies like Apple have Struggled to integrate AI facilities effectively In their operating system. For nothing, the difficulty is looking for the correct balance between newness and auxiliary while executing AI features.
PEI believes that smartphone is the best way to give AI, and they will be the “prominent form for all consumers AI applications” for at least three to five years, they said during a conversation with Techcrunch in July.
With the announcement of this money rally, the company said it plans to launch the AI-first equipment next year. However, there are no success stories in AI hardware space. Ai hardware startup Humane was sold to HP After struggling with your AI PIN device, and AI subsidiary Rabit is working to improve its R1 device, releasing A New software update Recently the company was not satisfied with the earlier repetition.
