Hardware maker Nothing is opening a new community investment round, allowing its users to buy shares in the company. This round, which opens on December 10, aims to raise $5 million. Consumers will be able to purchase shares at the company’s Series C valuation of $1.3 billion.
The company stated that this initiative is not primarily about raising capital. Instead, it is about giving their community and fans an opportunity to invest while Nothing is still a private company and to join them on their journey. Nothing has previously raised $8 million from over 8,000 people across two earlier community investment rounds. Its first community funding event was held in 2021 with a goal of raising $1.5 million.
Community investors receive a rotating seat on the company’s board, though other specific benefits for participating in these rounds remain unclear.
This community round follows Nothing’s recent $200 million Series C fundraising in September, which included investors like Tiger Global, GV, and Highland Europe. To date, Nothing has raised a total of $450 million.
The move comes as Nothing restructures its business to compete more effectively in a smartphone market dominated by giants like Samsung and Apple. As part of this shift, the company is spinning off its budget-friendly CMF brand. Nothing also plans to explore developing AI-centric devices while continuing to build smartphones and audio products. The company claims it reached $1 billion in cumulative revenue this year, a 150% increase from 2024.
Nothing’s CEO, Carl Pei, stated the startup is working to be “IPO-ready” within three years. The exact timing of an initial public offering will depend on market conditions and what is best for the business at that time. Pei added that the company is already building the systems, governance, and financial discipline required of a public company to ensure sustainable, long-term growth.
When asked about future fundraising, a Nothing spokesperson said the company is not actively planning to raise more capital immediately but would be open to conversations. It is unclear if Nothing intends to conduct another funding round before a potential IPO.
Individuals interested in the community investment round can participate through platforms like Wefunder and Crowdcube.