Community
Investment (3)

Our first community investment round sold out in under ten minutes, so we recommend registering now to avoid disappointment.

Choose your platform below to register for early access; opening 10th December, 13:00 GMT, 24 hours ahead of the public launch.

What do Facebook and Amazon have in common? They both failed to build a global smartphone business. We didn’t. We launched our first smartphone, the Nothing Phone (1) in 2022. To date we have shipped millions of devices, crossed $1B+ in lifetime sales in 2024 with 150% year-on-year growth, and raised $200M in our Series C round at a $1.3B valuation. But we have a bigger vision.

Nothing was founded before the world realised AI would reshape personal technology. Back then, the tech industry looked saturated from the outside, but from the inside, we saw an opening: if we could build a smartphone business at scale - and own the last-mile distribution point of consumer tech - we would be in the strongest possible position for whatever the next major shift would be. We didn’t yet know what that shift would look like, but we knew we had to build the foundations first.

So we focused on the hardest problem in technology: building an end-to-end hardware value chain from scratch. One capable of delivering products at speed, scale, and quality, where the margin for error is effectively zero. It meant assembling a team that could balance pragmatism with creativity - always pushing for experiences that felt new, meaningful, and instantly recognisable.

That foundation became real. We built a global supply chain. We established manufacturing partnerships across the world. We created an award-winning design language that shaped a new cultural identity in tech. And we set up a product development infrastructure that has shipped millions of devices across smartphones, audio, and smartwatches. Among all new entrants in the last decade, we believe Nothing is the only independent smartphone company to break through at a global scale, we are one of the fastest-growing brands, and the fastest for six consecutive quarters in India, something that has never been achieved in the world’s second-largest smartphone market.

But the most important achievement wasn’t the revenue or the growth. It was securing a seat at the table for what’s next. Today, we’re in a position that’s very hard to copy: we have the ability to launch any consumer hardware product from start to finish within months, go-to-market operations that can ship and service worldwide, and a global user community that co-creates with us.

Over the past two years, while building Nothing, we’ve watched AI move from research labs into everyday life. Yet the smartphone experience has barely evolved. More than 20 years after the first iPhone, we’re still tapping and swiping through lock screens, home screens, and apps. Operating systems remain rigid and generic, built for a world that no longer exists. AI assistants and tools have become, at best, a feature layer – and all too often a buzzword - rather than the systemic shift AI itself has the potential to deliver.

For AI to reach its full potential, consumer hardware must reinvent itself . This is the future we see for Nothing. The smartphone - with its sensors, distribution scale, and unmatched access to user context - will remain the most important device in the AI era. But its operating system has to evolve. We believe the future will be defined by AI-native systems that deeply understand each user, adapt to their context, and handle the non-essential on their behalf. Instead of one operating system for a billion people, there will be a billion different operating systems for a billion people. And this intelligence will travel with them across devices: smartphones, audio products, smartwatches, smart glasses, and whatever comes next.

Nothing is uniquely positioned for this transition because we already own the gateway - the smartphone - and we’ve built the global supply chain infrastructure that can continue to rapidly launch new hardware products in the future. Essential Apps is our first step towards an AI-native operating system and a hyper-personalised smartphone experience – Essential OS. With our Essential Apps, anyone can create their own apps in seconds using natural language. Next year, we are planning to launch some of our first AI-native devices to create the future of consumer technology. While the smartphone will remain a billion-unit-scale product, everyone will soon carry an additional device - always-present, context-aware, and capable of turning understanding into action. We’re building that future now.

Our progress and vision have been backed by some of the most respected investors in the world. To date, we’ve raised over $450M from partners such as Tiger Global, GV (formerly Google Ventures), EQT, Highland Europe, and Qualcomm Ventures, along with leading tech entrepreneurs like Tony Fadell (Future Shape, inventor of the iPod), Casey Neistat, Nikhil Kamath (co-founder Zerodha), Kevin Lin (co-founder of Twitch), Steve Huffman (CEO of Reddit), Garry Tan (CEO of Y Combinator), and many others. In September, we closed a $200M Series C at a $1.3B valuation - a milestone that marks the beginning of this next chapter.

We didn’t get here alone. From day one, our community has been part of the journey - not cheering from the sidelines, but shaping the way we build. Close to 8,000 people invested $8M across our previous community rounds. But it was never about the money. It was about working hand in hand with our users, keeping us grounded, challenging our assumptions, celebrating the wins, weathering the setbacks, and always moving forward with long-term conviction. This next community round continues the tradition.

Usually, people only have the chance to invest once a company goes public, but by then, the upside is often limited. Here, we’re giving our community an opportunity to invest before that stage: to be part of our journey and benefit from the value created together along the way. Despite continued growth since our 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.

Our first community investment round sold out in under ten minutes, so we recommend registering now to avoid disappointment.

Choose your platform below to register for early access; opening 10th December, 13:00 GMT, 24 hours ahead of the public launch.

Why is Nothing doing a Community Investment round?

From day one, our community has been part of the journey - not cheering from the sidelines, but shaping the way we build. Over 8,000 people invested $8M across our previous community rounds. But it was never about the money. For us it was about working hand in hand with our users, keeping us grounded, challenging our assumptions, celebrating the wins, weathering the setbacks, and always moving forward with long-term conviction. This next community round continues that tradition.

Usually, people only have the chance to invest once a company goes public but by then, the upside is often limited. Here, we’re giving our community an opportunity to invest before that stage: to be part of our journey and benefit from the value created together along the way. Despite continued growth since our 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, while investing alongside our institutional backers (Tiger Global, GV, Highland Europe and EQT).

What is Community Investment?

Community investment involves people investing money in an early-stage private, or unlisted, company (a company that is not listed on a stock market) in exchange for a share, or equity, in that company.

Nothing’s community fundraise is facilitated by Crowdcube and Wefunder.

Does this round form part of a wider funding round?

Yes. This community investment is an extension of Nothing’s $200M Series C round, led by Tiger Global. It gives our community the opportunity to invest at the same valuation and be part of the next phase of Nothing’s growth.

What will Nothing use the funds for?

This fundraise will contribute towards powering the next phase of growth - helping us launch more products, reach more users, strengthen our market position and build the AI-native experiences that define the future of tech.

How much has Nothing raised to date?

We have raised $450M in equity funding.

Who are my fellow investors?

You’ll be investing alongside leading global investors, including Tiger Global, GV (fka Google Ventures), Highland Europe, and EQT.

Other notable backers include Tony Fadell (Future Shape, inventor of the iPod), Casey Neistat, Nikhil Kamath (co-founder Zerodha), Kevin Lin (co-founder of Twitch), Steve Huffman (CEO of Reddit), Garry Tan (CEO of Y Combinator), Swedish House Mafia (musicians) and of course, many in our community have already invested.

What has been Nothing’s financial performance to date?

Nothing has demonstrated strong and sustained growth. In FY24, the company delivered $560M in revenue, up 150% year-on-year, and surpassed $1B in cumulative lifetime revenue. Momentum has remained strong in FY25, with H1 revenue more than doubling year-on-year.

Who can invest in Nothing?

To invest, you must be over 18 years old on the date of investment and legally entitled to invest. Please do not register if you are under 18.

We accept investments from most countries unless prohibited by the local laws where you reside. Additional restrictions may apply in certain regions, so please check your local regulations before investing.

What if I am a resident of the US, Canada, India or Japan?

Due to local regulations, residents of the US and Japan can only invest if they qualify as accredited investors under their local laws. Due to local laws and regulations, Nothing can not accept investment from Canadian investors. Indian investors are welcome to invest via the Crowdcube offering, provided they are allowed to by the local laws and can pass AML/KYC checks as required by legislation.

For accredited investors, If you qualify, you will be able to participate through Wefunder.

If you are unsure about the crowdfunding regulations in your own jurisdiction, we strongly recommend you to seek independent legal advice.

We’re continuing to explore options to make future community investment rounds accessible to more people around the world.

How do I invest in Nothing as a resident of the US?

Specific regulations in the United States apply to investments by US residents. You can invest in Nothing if you have accredited investor status, as defined in Rule 501(a) of Regulation D under the Securities Act.

If you meet these criteria, please enter your information on the Wefunder pre-registration page and verify your accredited status before the round goes live.

If you don’t meet these criteria, unfortunately, you won’t be able to participate in this round. We’ll continue exploring ways for more people to invest in future opportunities.

Can existing community investors participate again?

Yes. Existing community investors are welcome to participate in this round on the same terms as new investors.

What do I get if I invest?

You’ll become a shareholder in Nothing: a part-owner of the company. Nothing is also offering investors a range of rewards alongside the equity they receive for their investment. We'll share more details of the rewards available once the funding platform opens.

What is the share price for this round?

The share price for this round is $3.7236, with a pre-money valuation of $1.1B (same terms as our Series C).

If you make your investment through Crowdcube, you will make your investment in GBP. The share price and valuation in GBP will be calculated on 8 December 2025 by reference to the spot rate on that date, and these are the figures which will be displayed on the investment page.

Are there risks associated with investing?

Investing in a startup and early-stage business carries significant risks, including illiquidity, lack of dividends, loss of your investment and dilution. The majority of startups fail or do not deliver shareholders a return on their investment. Liquidity, or the ability to cash in your investment, is limited as it often depends on the company being sold. Investments in start-ups and early-stage companies are long-term investments. You can read more about these risks on the Crowdcube and Wefunder websites.

We welcome everyone to invest, but please note that local regulations apply. Please check the applicable laws of your country. If you are unsure, we strongly recommend that you seek independent legal advice. Nothing shall not be liable for any loss caused to you as a result of your failure to comply with the applicable local laws.

Am I protected as an investor?

Nothing is committed to treating all shareholders fairly and in accordance with applicable laws, its memorandum and articles, and its shareholders’ agreement.

For non-accredited investors, before we go live, Crowdcube verifies the key statements made in our pitch (and every other pitch) to ensure that it’s fair, clear and not misleading.

Crowdcube Capital Ltd is authorised and regulated by the Financial Conduct Authority (No. 650205). As such, investors are treated as customers of Crowdcube Capital and therefore have the potential to be compensated out of the Financial Services Compensation Scheme established and operated by the Financial Conduct Authority, in the event that Crowdcube Capital should fail in the conduct of its FCA regulated activities. However, investors will not be able to claim under the Financial Services Compensation Scheme merely because a Crowdcube Capital investee company fails. Details of the Financial Services Compensation Scheme may be found at www.fscs.org.uk

How do I make a return on my investment?

A return may come from a future liquidity event such as a trade sale, secondary market transaction or an IPO.

As with any early-stage investment, these outcomes are not guaranteed and can take several years to materialise.

Can I sell or transfer my shares in the future?

Shares in private companies like Nothing are not traded on a public stock exchange, so liquidity is limited. You may be able to sell your shares if a secondary transaction or liquidity event occurs in the future, such as an IPO or acquisition, but there is no guarantee or set timeline for this.

How do I become a Nothing Investor?

Start by signing up (for free) on Crowdcube or Wefunder, depending on where you’re based, and whether you qualify as an accredited investor. Once our page goes live, you’ll have early access to invest before the opportunity is shared publicly.

On Crowdcube, you’ll officially become a Nothing shareholder once the round has closed, the four-day cooling-off period has ended and the company has completed any legal actions to close the raise. If you pre-register your interest, we’ll notify you as soon as the page opens.

What is Crowdcube?

Crowdcube is a platform that enables businesses to raise investment from both professional and everyday investors. It has not only supported Nothing’s 2 previous community raises, but has also supported companies such as Monzo, Revolut, BrewDog, and is Europe’s largest equity investment platform.

Crowdcube is regulated in the UK by the Financial Conduct Authority (FCA), and in the EU by the CNMV, so you can invest with confidence.

Learn more about Crowdcube here.

What is Wefunder?

Wefunder is a regulated investment platform that allows accredited investors to invest in startups and growing businesses. If the company succeeds, your investment may increase in value. If it doesn’t, you could lose your investment. Either way, you become part of a community of investors who want to help the company grow.

Wefunder is registered with the US Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA), and is one of the leading regulated platforms for community investment in the United States.

Learn more about Wefunder here.

How much can I invest?

In most regions, you can invest from as little as $50 or the equivalent amount in your local currency (via the Crowdcube platform), and up to whatever amount you’re comfortable with. Different rules apply for accredited investors in the US (via Wefunder; minimum $5,000 investment).

What are the fees for investing on the platform?

There’s no fee to join Crowdcube or Wefunder as an investor.

Crowdcube: When you make an investment on the platform, Crowdcube charges an investment fee of 2.49% which is subject to a minimum of €5 and remains capped at a maximum of €500.

Wefunder: Investors are charged a 0.25% management fee and 5% carried interest on net profits.

You can find more details about each platform’s investment fees on the Crowdcube Help Centre and Wefunder website.

Why do you need to check my identity?

Crowdcube and Wefunder are regulated investment platforms and must verify the identity of every investor. This ensures that all funds come from legitimate sources and that shares are registered to the correct owner.

These checks are a legal requirement designed to protect both investors and the company, and to make sure the investment process runs smoothly.

If Crowdcube/Wefunder are not able to verify your identity, then you will not be able to invest. We suggest you complete your account as soon as possible.

When is payment for my investment collected?

For Crowdcube, payment will be collected at the point of investment, when the full investment page is live. If you express interest in the ”early access” registration phase, this will not trigger a payment collection or commit you to that amount if you later decide to invest. You will still need to make an investment when the page is live for investment on 10th. At that time, if your payment method fails for any reason, the Crowdcube team will be in touch with you to help resolve it. Investors are able to cancel their investment until the end of the 4 day cooling off period which will begin shortly after the investment offer ends,and you will be notified by email when the cooling off period begins.

For accredited investors investing on Wefunder, payments are collected as soon as an investor creates an investment. Investors are able to cancel their investment until the round is finalised.

What happens after I invest?

If you invest via Crowdcube, you can find more details here.

If you invest via Wefunder, you'll receive updates from the company as well as be able to view your holdings through the portfolio here.

Please remember that investing in startups and early-stage businesses carries risks, including illiquidity, lack of dividends, loss of investment and dilution. These investments should be made as part of a diversified portfolio.

Will I receive a share certificate?

No. Your shares will be held on your behalf through a nominee structure managed by Crowdcube or Wefunder. This means you won’t receive a physical share certificate, but you’ll have digital access to all investment documentation through your account on the respective platform.

What currency can I invest in?

Crowdcube accepts payments in GBP. Wefunder accepts payments in USD.

Why do you need to verify my identity (Crowdcube)?

Crowdcube are legally required to carry out an Anti-Money Laundering (AML) check on all investors to verify identity. This check doesn’t affect your credit score.

In most cases, these checks will be completed in the background using electoral data.

However, if you are making your first investment through Crowdcube, they may require a copy of two documents, one to confirm your identity and one to confirm your address.

If they need these documents, we will send you an email which includes details on what kind of documents we can accept and a link to upload. The email will come from the address aml@crowdcube.com.

Crowdcube cannot accept certain documents, including:

• Credit card statements
• Insurance documents
• Provisional driving licences
• Mobile phone bills
• Purchase receipts
• Library cards

If your document was rejected, please upload an alternative that meets these requirements.

If we are unable to verify your identity as an investor, we won’t be able to process your investment, and it will be cancelled as a result.

If you have further questions on verification and documentation, please see Crowdcube’s help section here - and if you still have questions, contact support@crowdcube.com.

Why do you need to verify my identity (Wefunder)?

Identity verification is standard practice as part of Wefunder's Know Your Customer and Anti Money Laundering (KYC/AML) compliance. You may receive a prompt as you log in to your Wefunder account or through email to verify your identity to complete your investment. You may be flagged to verify your identity at the time of your first investment or after a later investment made on the platform.

For any questions, please contact support@wefunder.com.

How can individuals and entities qualify as accredited?

Individuals:

• Income over $200,000 per year for the last two years and expecting to remain the same.
• Income over $300,000 per year for the last two years if joint with a spouse.
• Net worth over $1 million, excluding the primary residence.
• Investment professionals in good standing holding the general securities representative license (Series 7), the investment adviser representative license (Series 65), or the private securities offerings representative license (Series 82).

Entities:

• Entities owning investments in excess of $5 million.
• The following entities with assets in excess of $5 million: corporations, partnerships, LLCs, trusts, 501(c)(3) organisations, employee benefit plans, “family office” and any “family client” of that office.
• Entities where all equity owners are accredited investors.

If you meet any of those qualifications and would like to verify your accredited status, we will need you to submit documentation confirming your income or net worth per the criteria listed above.

What forms/documents are acceptable to prove accreditation?

Letter from a lawyer, accountant, dealer-broker, or investment advisor indicating that they have seen the investor’s financials and can confirm that they meet the accreditation requirements.

• Tax forms like W-2s, 1099s, K-1s, etc.
• Certificates of deposit, tax assessment, or appraisals.
• Proof of license for Series 7, 65, or 82.
• If the investor is foreign and uploads foreign documents, you can convert the currency into USD to determine if they meet the threshold.

*Please note, all documentation MUST have the investor's full name and date of the document.

You can upload these forms in your Investor Limits settings. Once you go to your settings, click Investor Limits on the side menu, and then select yes for Accredited Status. Once you do this, you'll see a "Verify" link where you can submit your documents.

Our Investor Success team reviews these requests Monday-Friday. Please allow one business day for processing.

I have listed my address incorrectly. How can I update this?

If you need to update the address listed on your Crowdcube account, you can update your address here.

If you need to update the address listed on your Wefunder account, you can update your address here.

Can I gift shares through your platform?

This is not possible on Crowdcube or Wefunder. All investments must be made in your own name, using your personal details (name, address and date of birth). The payment card used must also be in your name.

More information can be found on Crowdcube’s Help Centre.

More information can be found on Wefunder’s FAQ.

Risk warning:

Investments of this nature carry risks to your capital and should be entered into as part of a diversified portfolio. This page has been approved as a financial promotion by Crowdcube Capital Ltd, which is authorised and regulated by the Financial Conduct Authority (No 650205)