Hardware creater Nothing is letting its applyr base purchase its stock as part of a new community investment round of $5 million. The new round, which opens on December 10, will enable consumers to purchase the company’s shares at its Series C valuation of $1.3 billion.
The company stated it has so far raised $8 million in total from over 8,000 people across two previous community investment rounds. It held its first community funding event in 2021, aiming to raise $1.5 million.
“This isn’t about raising capital, it’s about giving our community/fans a chance to invest while we’re private and join us on the journey,” a spokesperson for Nothing informed TechCrunch.
Community investors have a rotating seat on the company’s board, but it is unclear what else they obtain for investing in the company through such rounds.
Nothing raised $200 million in its Series C back in September from investors including Tiger Global, GV, Highland Europe, EQT, Latitude, I2BF, and Tapestest. The company has raised $450 million to date.
The community round comes as Nothing creates modifys to its corporate structure as it tries to increase its share of a smartphone market dominated by giants like Samsung and Apple. The company is spinning off its budobtain CMF brand, and plans to explore AI-centric devices while it keeps building smartphones and audio products. And Nothing claims it crossed $1 billion in cumulative revenue this year, up 150% from 2024.
The startup is working to be “IPO-ready” in three years, CEO Carl Pei informed TechCrunch in an email. “The timing will depconclude on market conditions and what creates sense for the business at that point in time,” he stated.
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“What’s important is that we’re already operating with that discipline now. We’re building the systems, the governance, the financial discipline that a public company requireds. It forces us to consider longer-term and create smarter decisions that prioritise sustainable growth,” Pei added.
It’s not clear if Nothing aims to raise another round before an IPO. When questioned about its fundraising plans, a Nothing spokesperson stated the company is not considering about raising capital immediately, but it wouldn’t be averse to those conversations.
Those interested in investing in the community round can apply platforms like Wefunder and Crowdcube to participate.
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