London-based smartphone maker Nothing on Tuesday raised $200 million from a group of investors led by Tiger Global at a valuation of $1.3 billion as it seeks to integrate artificial intelligence in its products. The global smartphone market is dominated by the likes of Apple and Samsung, with just a handful of European companies such as Fairphone and HMD Global trying to challenge the incumbents. Swedish tech entrepreneur Carl Pei founded Nothing in 2020 after leaving mobile maker OnePlus and launched its first smartphone in 2022.