Get All Access for $5/mo

Nothing Aims To Raise $1.5 Mn From Community Funding Carl Pei's new company plans to elect one of the crowdfunding investors as a community board member

By Prabhjeet Bhatla

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Nothing

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.

Prabhjeet Bhatla

Former Staff

News and Trends

K12 Techno Services Secures USD 40 Mn in Funding from Kenro Capital

The Bengaluru-based firm aims to expand aggressively, with plans to open 8–12 Orchids schools annually and onboard 100–150 schools under the Eduvate umbrella each year.

News and Trends

RapidCanvas Raises USD 16 Mn to Accelerate AI Innovation in Business Operations

The new capital will fuel the expansion of its innovative offerings and global reach.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

News and Trends

Former Cleartrip CEO Ayyappan R Eyes Quick Commerce with FirstClub

After stepping down as Cleartrip's CEO earlier this year, Ayyappan brings his expertise from leading positions at Flipkart, including his role as chief business officer at Myntra.

Business Ideas

87 Service Business Ideas to Start Today

Get started in this growing industry, with options that range from IT consulting to childcare.

Business News

These Companies Offer the Best Work-Life Balance, According to Employees

The ranking is based on Glassdoor ratings and reviews.