India, Sept. 16 -- Nothing has officially entered the Unicorn Club, crossing the $1 billion valuation mark after announcing it had raised $200 million in Series C funding at a $1.3 billion valuation. Alongside existing investors, the round saw the entry of new backers, including Zerodha founder Nikhil Kamath and Qualcomm Ventures. Notably, Kamath is not the first Indian to invest in Nothing. Back in 2021, the company raised $50 million with contributions from Indians such as producer Karan Johar, cricketer Yuvraj Singh, and YouTuber Ranveer Allahbadia.

As part of its release, Nothing has said that this funding is going to be used to accelerate product innovation and deepen the company's investment into "AI-native" products, which would b...