London, United Kingdom: London-based consumer tech company Nothing is opening a new $5 million community investment round at its $1.3 billion Series C valuation, as it leverages hardware infrastructure foundation to build AI-native operating systems. 

The timing reflects a deliberate long-term strategy. From day one, we set out to build a global smartphone business to own the last-mile distribution point of consumer tech before the AI era fully arrived. 

That foundation is now in place: we’ve shipped millions of devices, surpassed $1 billion in cumulative revenue, and achieved 150% year-on-year growth in 2024. We’re also the only independent smartphone brand to break through in the last decade at global scale.

From day one, our community has been part of the journey - shaping the way we build, challenging our assumptions, and keeping us honest. This round gives our community an opportunity to invest at this stage, and benefit from the value created together along the way. Despite continued growth since the Series C, we’re offering it at the same price per share, giving supporters the chance to grow with us while shaping the future of AI-native consumer technology.

At Nothing, we believe the future will move from one operating system for a billion people to a billion personalised operating systems, with intelligence that travels seamlessly across smartphones, audio products, wearables, and future device categories.

With end-to-end capabilities established, from design and supply chain to manufacturing and global distribution, we’re now focused on developing operating systems that deeply understand each user and adapt to their context. Next year, we will launch our first AI-native devices as we build the future of consumer technology. 

Nothing has raised over $450 million from investors including Tiger Global, GV, Highland Europe, EQT, and Qualcomm Ventures, closing a $200 million Series C in September 2025. It also has almost 8,000 community investors, who have contributed $8 million across previous rounds and participate through a rotating community board seat. 

The new round opens for early access on 10 December via Wefunder (US) and Crowdcube, with public access from 11 December. Despite Nothing’s continued growth since the Series C, the round is offered at the same price per share.

Carl Pei, CEO and Founder of Nothing , said: “We started Nothing to make tech fun and inspire human creativity. We've built deliberately from the start: first creating a hardware foundation that can ship any device, end-to-end, at global scale, then focusing on the smartphone because we knew owning that distribution point would position us for what's next. 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.”