Consumer electronics maker Nothing has announced a $5 million community investment round that will allow its users to buy company shares at its Series C valuation of $1.3 billion, as the startup works toward becoming IPO-ready within three years.
Community investment round details
The community funding round opens on 10 December and enables members of the public to purchase shares in the privately held company. Nothing said it has already raised a total of $8 million from more than 8,000 people through two previous community investment rounds. Its first such round took place in 2021 with a $1.5 million fundraising target.
A spokesperson for Nothing told TechCrunch that the round is intended to allow fans and users to participate as investors while the company remains private, rather than being driven purely by capital needs.
Community investors are given a rotating seat on the company’s board. The company did not specify what additional rights or benefits are attached to investments made through these rounds.
Previous venture funding and valuation
Nothing raised $200 million in its Series C funding round in September. Investors in that round included Tiger Global, GV, Highland Europe, EQT, Latitude, I2BF, and Tapestry.
The company said it has raised a total of $450 million to date across all funding rounds.
Business strategy and corporate restructuring
The community investment round comes as Nothing adjusts its corporate structure as it seeks to grow in the global smartphone market, where it competes with larger manufacturers such as Samsung and Apple.
The company is spinning off its budget-focused CMF brand. It has also said it plans to explore artificial intelligence-focused devices while continuing to develop smartphones and audio products.
Nothing said it crossed $1 billion in cumulative revenue this year, representing a 150% increase compared with 2024.
IPO planning timeline
Chief executive Carl Pei told TechCrunch by email that the company aims to be “IPO-ready” within three years. He said the timing of any public listing would depend on market conditions and what is appropriate for the business.
Pei said the company is already operating with the governance, financial systems, and internal discipline required of a public company. He said this approach supports long-term planning and sustainable growth.
It remains unclear whether Nothing plans to raise another private funding round before a potential IPO. A company spokesperson said Nothing is not actively seeking capital at present but is open to future fundraising discussions.
How investors can participate
Individuals interested in the community round can participate through platforms including Wefunder and Crowdcube.
Featured image credits: Wikimedia Commons
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