Nothing Secures $96M Funding for Phone Launch

London-based startup Nothing has raised $96 million in funding, led by Highland Europe, ahead of the launch of its next smartphone, the Phone (2). The investment brings the total raised by the company to $250 million. Nothing has already generated $200 million in revenues in 2022 and has sold 1.5 million devices to date. The Phone (2) will be released in the US market and will feature customizable "visual" ringtones. The company plans to expand its product lineup beyond smartphones, with hints at a smartwatch and a focus on software. Nothing aims to challenge established players like Apple and Samsung in the smartphone market.