Consumer technology brand Nothing raises additional $50 million (around Rs 376 crore) in Series A extension from strategic and private investors. The company plans to utilize the fund towards research and development in preparation for the brand's entry into new product categories as part of its ecosystem.

"Seamless connectivity is paramount to achieving our vision of a future without barriers between people and technology. We look forward to working alongside Qualcomm Technologies and our strategic investors to achieve Nothing's next phase of growth," Nothing CEO and Co-founder Carl Pei said in a statement.

Nothing's total funding after the fresh fund close has reached $74 million. The additional $50 million funding follows the $16.5 million Series A raise that the company closed in the first quarter of 2021 and the $7 million Seed investment secured in the last quarter of 2020.

(With inputs from PTI)