Nothing Aims To Raise $1.5 Mn From Community Funding
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London-based consumer technology company Nothing announced on Tuesday that it will open up for its community to invest in the company through a community equity funding round.
After having raised a total of $22 million, the company will allow the general public to invest a total of $1.5 million, at the same valuation as their Series A funding led by GV (formerly Google Ventures).
“We want our community to be part of our journey from the very start and play an active role in it,” shared Carl Pei, chief executive officer, and co-founder, Nothing.
The technology platform is privately held and venture-funded by GV (formerly Google Ventures). Other investors include; Tony Fadell, principal, Future Shape and inventor of iPod; Casey Neistat, YouTube personality, and co-founder, Beme; Kevin Lin, co-founder, Twitch and Steve Huffman, co-founder and chief executive officer, Reddit.
“As part of this process, we will also be electing a community member to our board of directors, so that we’re always kept in check, and reminded of what users want,” Pei added.
Following this community funding round, investors will have access to the company’s private community through which they will get exclusive benefits and insights into the company. From there, the company also plans to elect a community board member to represent and to be the voice of the community in board meetings, a statement said.
Starting 2021, the platform aims to bring back artistry, passion, and trust to the field of consumer technology.