Nikhil Kamath's $21 Million Bet on Nothing: A New Era for Indian Tech
Nikhil Kamath, co-founder of Zerodha, has invested $21 million in smartphone company Nothing during its recent $200 million funding round. His investment aligns with Nothing's strategy to shape consumer AI tech and positions the brand as India's fastest-growing smartphone player. Carl Pei welcomes Kamath to the board.
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Nikhil Kamath, co-founder of Zerodha, has made a substantial investment in the smartphone industry by backing Nothing, a company highlighted for its revolutionary approach in consumer technology. Kamath contributed $21 million to Nothing's recent $200 million fundraising, securing a $1.3 billion valuation for the brand.
Nothing, under the vision of its founder Carl Pei, aims to advance consumer AI technology, and Kamath's investment marks a significant vote of confidence. The company has seen remarkable growth, claiming a 577% year-over-year increase and positioning itself as India's fastest-scaling smartphone brand.
Pei expressed enthusiasm about Kamath joining, indicating it supports the strategic mission to build a global brand. The firm's $100 million joint venture with Optiemus further reinforces its manufacturing capabilities, setting ambitious plans for the future.
(With inputs from agencies.)
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