Carl Pei’s startup Nothing closes crowdfunding round, surpasses $5 million target in 1 week

Nothing, the consumer technology company founded by OnePlus co-founder Carl Pei, has raised more than £5.3 million from 4,643 investors in its latest community funding round. The crowdfunding round closed on Tuesday and was open for less than a week.

The company announced the opening of the round on December 12. In a LinkedIn post, Nothing co-founder and president, India, wrote, “...Today we have opened our Community Investment (3) and we've already surpassed the initial $5M allocation.”

 

 

 

 

 

 

 

Nothing raised the funds at the same pre-money valuation of £976.56 million, or $1.3 billion, as its earlier $200 million Series C round. That round saw participation from angel and institutional investors, including Nikhil Kamath and Tiger Global.

Data from Crowdcube, one of the platforms offering the investment, showed that as of Tuesday the price per share stood at £2.7972, or $3.7236. The total size of the wider funding round was £150.24 million. Indian investors were also able to take part through the platform, with the minimum investment set at $50.

This was the company’s third community funding round. Nothing had earlier raised close to $8 million through its first two crowdfunding rounds, with more than 8,000 investors participating. Earlier this month, product-focused startup Totem Labs also announced a community funding round, with a target of $2 million.

Crowdfunding allows retail investors to invest in startups at an early stage. For companies like Nothing, these rounds are often aimed at building a strong community of brand supporters and testing market interest, rather than only raising capital. This approach has also helped platforms such as Crowdcube and Wefunder expand in emerging markets, including India.

Unlike traditional venture capital funding, where founders often give up significant equity or control, crowdfunding allows startups to raise funds while retaining greater control over their ownership and decision-making. This helps founders support growth without compromising their long-term vision.