London-based Nothing is opening a $5 million community investment round at the same $1.3 billion valuation used in its Series C funding earlier this year, giving everyday investors access to equity ahead of the company's plans to become IPO-ready within three years.
The round opens on 10 December through Wefunder in the US and Crowdcube in other regions, with public access beginning on 11 December. According to the company, the pricing remains identical to its September Series C terms despite continued growth, effectively offering retail investors the same per-share rate as institutional backers.
Nothing, founded by former OnePlus executive Carl Pei, has raised more than $450 million to date from investors including Tiger Global, Qualcomm Ventures, GV and EQT. Its most recent $200 million Series C closed in September 2025. Nearly 8,000 community investors have already contributed about $8 million across earlier rounds.
Pei said the move aligns with the company's long-term strategy of building out hardware capabilities before shifting focus to artificial intelligence. Nothing reports surpassing US$1 billion in cumulative revenue, shipping millions of devices globally, and recording 150% year-on-year growth in 2024—figures that position the company among the few independent smartphone makers still scaling internationally.
The company says it is now developing AI-native operating systems, aiming to create more personalised user experiences across smartphones, audio products and wearables. Its first AI-focused devices are expected to launch in 2026.
Nothing has been positioning itself for a future public listing, with Pei stating that the company expects to be "IPO-ready" within the next three years. The latest community round is described as one of the last opportunities for retail investors to buy shares before any potential listing.
