Hardware innovator Nothing is launching a new community investment round, aiming to raise $5 million by allowing its user base to purchase company stock. Kicking off on December 10, this initiative offers consumers the opportunity to acquire shares at Nothing's Series C valuation of $1.3 billion.
This isn't Nothing's first foray into community-driven fundraising. The company has previously secured $8 million from over 8,000 individuals across two prior community investment rounds. Its inaugural community funding event in 2021 initially targeted $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 Nothing spokesperson told TechCrunch, emphasizing the company's commitment to its supporters.
Community investors are granted a rotating seat on Nothing's board, though the full scope of additional benefits for participating in these rounds remains unspecified.
Beyond its community efforts, Nothing also completed a significant institutional Series C funding round in September, raising $200 million from prominent investors including Tiger Global, GV, Highland Europe, EQT, Latitude, I2BF, and Tapestry. To date, the company has accumulated $450 million in total funding.
The timing of this community round coincides with strategic shifts in Nothing's corporate structure, as the company strives to expand its footprint in a smartphone market largely dominated by industry giants like Samsung and Apple. Nothing is spinning off its budget-friendly CMF brand and plans to explore AI-centric devices, all while continuing to develop its core smartphones and audio products. The company also claims to have surpassed $1 billion in cumulative revenue this year, representing a 150% increase from 2024.
Looking ahead, CEO Carl Pei informed TechCrunch via email that Nothing is actively working towards being "IPO-ready" within three years. He clarified, "The timing will depend on market conditions and what makes sense for the business at that point in time."
Pei further elaborated on the company's internal preparations: "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 needs. It forces us to think longer-term and make smarter decisions that prioritise sustainable growth."
While it's not yet clear if Nothing intends to pursue another institutional funding round before a potential IPO, a company spokesperson indicated that while immediate capital raising isn't the focus, they would remain open to such discussions.
Prospective investors interested in participating in this community round can do so through platforms such as Wefunder and Crowdcube.
