Nothing Appoints Hemant Kundavaram as CFO to Bolster Its India Growth Strategy

London consumer technology business Nothing appoints Hemant Kundavaram as Chief Financial Officer (CFO) for Nothing India, continuing to highlight the company's determination to lay a strong financial basis for its rapid growth in India, which is one of its key markets.

With over two decades of hands-on expertise and proven track record in an array of domains, namely finance, accounting, fundraising and capital markets, Kundavaram's profound expertise comes at just the right time of Nothing's major scaleup. His appointment represents the company's ambition to strengthen its India operations as it sets itself as an industry disruptor in the highly competitive smartphone and consumer electronics space.

Nothing India has appointed Hemant Kundavaram as its new Chief Financial Officer (CFO)

A Strategic Hire for India's Growing Role

India has emerged as the very pulse of Nothing's international growth vision in a very short time. With high-energy consumers, great demand for cutting-edge technology and a competitive yet rapidly growing smartphone market, India presents unmatched potential for paradigm-shifting brands such as Nothing.

Speaking about the hire, Akis Evangelidis, Co-founder and President of India at Nothing, stated:

"India is at the centre of Nothing's vision for the world and we're embarking on a thrilling new era of expansion here. Hemant's strong experience in financial operations and capital strategy will be invaluable as we scale quickly and strengthen our roots in India. Having him on board, we're building our bedrock to drive growth faster and fulfill our ambition to build from India to the world."

The appointment comes after Evangelidis himself was included in the workforce of Nothing as its India President in the first half of 2025, the second high-profile senior leadership appointment Nothing India has made within a year. The series of appointments reflect the importance of the Indian market to Nothing's long-term plans.

Who Is Hemant Kundavaram?

Hemant Kundavaram is a 2005 batch Chartered Accountant with B.Com. from Tirupati, Andhra Pradesh (2002). Throughout the past 20 years, he has nurtured a career that combines corporate finance leadership roles in multinational organisations with entrepreneurial experience in high-growth, promoter-driven startups.

His earlier professional career involved stints at Ford India, IBM, Thomson Reuters and Rockwell Collins, where he gained experience in overseeing financial operations, governance and compliance within large multinational settings. He transitioned to the startup ecosystem in 2015, when he joined promoter-led startups to assist businesses in scaling through sound financial planning and capital management.

Most recently, Kundavaram was CFO at PMI Electromobility, where he assisted in framing the company's financial strategy at a time of transformational growth within the electric mobility industry. His fundraising, investor relations, IPO preparation and capital market operations background make him uniquely positioned to assist Nothing's aggressive India growth plans.

Commenting on his appointment, Kundavaram said:

“Nothing's journey to date has been simply exceptional. I am thrilled to be part of the next phase as the company speeds up its growth and intensifies its footprint in India. I am eager to steer a solid financial basis that supports rapid growth and fortifies the brand's vision in India."

India: Nothing's Slowest Growing Market

The importance of Kundavaram's appointment is understood better when put in perspective against Nothing's recent Indian performance. As per Counterpoint Research's Q2 2025 Smartphone Shipment Tracker, Nothing achieved 146 per cent CAGR growth, becoming India's fastest-growing smartphone brand for the sixth straight quarter.

This momentum is a testament to India's position not only as a high-volume market but also as a strategic base for Nothing's ambitions in the world. By bolstering its leadership with experienced executives such as Kundavaram and Evangelidis, Nothing is making it clear that India is not only an end market—it is a launchpad for creating products and strategy "from India to the world."

The CFO's Role in Driving Growth

In the capacity of the CFO, Hemant Kundavaram will spearhead a transformative role to influence Nothing's India growth story. His BAU ought to scale across multiple strategic points:

• Fundraising and Capital Strategy

Nothing has sketched an aggressive plan in both wearables and smartphones and maintaining its streak of popularity in India will involve spending on R&D, distribution, and marketing. Kundavaram's experience in raising funds and investor relations will be key in ensuring that India's operations have the financial strength to drive expansion.

• Strengthening Governance and Compliance

As Nothing grows, having strong compliance with India's changing regulatory environment will be critical. Kundavaram's corporate governance experience prepares him to manage growth with fiscal prudence.

• Facilitating IPO and Global Capital Markets Strategy

With rumors of Nothing potentially pursuing an IPO over the next few years, a CFO with capital market operations experience is a strategic advantage. Kundavaram's IPO readiness experience will bring gravitas to Nothing's financial management.

• Maximising Operations for Long-Term Growth

In addition to raising capital, Kundavaram will prioritise ensuring that Nothing's quick growth is complemented by sustainable financial management, so that the company can grow profitably.

A Moment of Change for Nothing

Launched in 2020 by Carl Pei, Nothing has managed to grab the consumers’ attention swiftly with its signature design philosophy and dedication to innovation. The transparent design of smartphones and wearables of the company leave a mark in an overcrowded marketplace and assists in establishing robust brand differentiation.

But in India, the second-largest smartphone market globally, scaling requires more than innovation in products. It involves a strong financial foundation, smart capital allocation and sustained investor confidence. Kundavaram's hiring is a recognition of this fact and a conscious move to inculcate financial discipline into the growth story of the company.

Expansion from India to the World

Nothing's India strategy extends beyond accessing its huge consumer base. As India becomes a world manufacturing, design and R&D hub, Nothing is setting up its India operations as a launchpad for global expansion. The words "building from India to the world," repeated by Evangelidis, reflect this aspiration.

By strengthening its India leadership team, Nothing is building the foundations for:

• Scaling local production to global demand.

• Using India's engineering expertise for product innovation.

• Driving exports out of India into international markets.

In this regard, the CFO's role is not limited to finance—it is strategic. Kundavaram will play a key role in coordinating Nothing's India region business with its international goals, making the country both a hub for innovation as well as a growth engine.

Conclusion: Building the Foundation for Hypergrowth

Appointing Hemant Kundavaram as Nothing India's CFO is a sign of more than a change of leadership; it is a definitive declaration of intent. Now that India is at the top of Nothing's growth plans, the firm is motivated to ensure its financials are robust enough to support continued expansion.

By blending Kundavaram's experience in finance and Evangelidis' vision for leadership, Nothing is building a team that can handle the intricacies of India's market while leveraging its potential as a world hub.

Riding record-breaking smartphone growth and aggressive plans across consumer technology categories, Nothing's Indian chapter II will be dependent on how well it manages to balance innovation and financial prudence, speed and sustainability, and local accomplishment and global ambition.

And with the company continuing its growth, the inclusion of a seasoned finance leader such as Kundavaram guarantees that Nothing's India success story is not only amazing—it is sustainable.

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