Nothing launches $5M “community investment round”

Nothing, the UK-based smartphone disruptor, is launching a fresh “community investment round", targeting a $5m raise.

The crowdfunder will allow investors to buy shares at the same price as Nothing's $1.3bn Series C valuation.

Investors can invest via Crowdcube and Wefunder in the fundraiser, with early access on December 10, followed by public access on December 11.

Proceeds from the funding will be used to launch more products and expand its customer base, Nothing said.

Smartphone handset maker Nothing has raised over $450m from investors, including Tiger Global, GV, Highland Europe, EQT, and Qualcomm Ventures, closing a $200 million Series C earlier this year.

Nearly 8,000 investors have invested in its previous “community investment rounds”, investing around $8m.

Carl Pei, CEO and founder, Nothing, said: “With technological developments in AI, consumer devices and software will fundamentally change in the next couple of years. This is where we're uniquely positioned to play. Our community helped us get here, and this round lets them participate in where we're going.”