Hardware manufacturer Nothing has initiated a new community investment round seeking $5 million, allowing its user base to acquire shares at the Series C valuation of $1.3 billion. This move follows two previous community funding efforts that collectively raised $8 million from over 8,000 participants.
The company explicitly frames this capital raise as an opportunity for brand advocates to participate in private ownership rather than strictly meeting immediate funding needs.
The current funding initiative opens December 10, and those participating gain access to the company's valuation established during its September Series C round. That prior Series C secured $200 million from institutional backers including GV and Tiger Global, bringing Nothing’s total financing raised to $450 million to date. This strategic decision aligns with Nothing’s stated goal of achieving IPO readiness within the next three years, according to CEO Carl Pei. Operating with the financial discipline required of a public entity now is intended to prioritize sustainable growth and long-term decision-making processes.
Nothing reports crossing $1 billion in cumulative revenue this year, reflecting a 150% increase compared to the preceding year’s performance. The company is simultaneously restructuring its operations to better compete in the highly concentrated smartphone sector dominated by incumbents like Apple and Samsung.
Furthermore, Nothing is carving out its budget CMF brand as a separate entity while plotting entry into AI-centric devices alongside its core smartphone and audio product lines.
These structural realignments suggest an aggressive expansion strategy targeting multiple hardware segments simultaneously. The broader hardware market sees intense competition, particularly in consumer electronics where established players benefit from massive economies of scale. Competitors in the premium smartphone space maintain high barriers to entry, making Nothing’s growth trajectory reliant on successful product differentiation and community loyalty.
While the company is not actively pursuing further institutional financing immediately, it remains open to discussions regarding future capital requirements before its planned public offering.
Participation in this community round is being facilitated through established equity crowdfunding platforms Wefunder and Crowdcube.
