Nikhil Kamath Invests $21M in Nothing

New Delhi, Oct 9 (PTI) Unicorn wealth tech firm Zerodha's co-founder Nikhil Kamath on Thursday said that he has invested USD 21 million in Nothing as part of the recent USD 200 million fundraise by the smartphone company.

Kamath said that the investment was done in the company at a valuation of USD 1.3 billion.

"So I recently invested USD 21 million in Nothing's Series C round at a USD 1.3 billion valuation. Thrilled to back a brand shaping the future of consumer tech," Kamath said in his social media post.

Nothing has recently announced securing USD 200 million in a funding round in mid-September primarily for the development of next phase Consumer AI technology at the company.

Kamath said that his criteria for investment in the company comprised design of the devices as it grabs attention, which gives it affordable premium positioning, utility factor, reputation of founder for his innovation capabilities.

Before starting Nothing, its founder Carl Pei was co-founder of OnePlus smartphones.

"Founded in 2020, Nothing had already become India's fastest scaling smartphone brand by 2024, with an impressive 577 per cent YoY growth. By Q2 2025, it held the title for six quarters in a row, far outpacing its rivals," Kamath said in his presentation.

According to Counterpoint Research, Nothing clocked a 156 per cent YOY growth in India, becoming the only smartphone brand to hold this title for six consecutive quarters, far outpacing its rivals.

In the last four years, Nothing has shipped millions of devices, beginning 2025 crossing over USD 1 billion in total sales.

Pei told PTI that Kamath joining Nothing signals a strong confidence in the brand's future.

"Nikhil joining us is a strong signal of confidence in what we're building with Nothing and CMF. He represents a new generation of Indian entrepreneurs who think long-term, move fast, and aim to create global impact - it's very exciting to have him on board. India has been central to Nothing's journey from day one," he said.

The company has formed a joint venture with Optiemus for manufacturing CMF brand devices of Nothing.

"Our recent USD 100 million manufacturing joint venture with Optiemus, along with our ambition to build CMF into India's first truly global smartphone brand, we've got big plans ahead. Having Nikhil as part of this journey will only accelerate that momentum," Pei said.