Noble Mobile Secures $10.3 Million Seed Funding to Disrupt Telecom with Data Usage Rewards

Andrew Yang's new mobile virtual network operator (MVNO), Noble Mobile, has officially launched after securing $10.3 million in seed funding, aiming to revolutionize the telecommunications industry by rewarding users for consuming less data. The venture, led by the former presidential candidate, has attracted significant backing, including a compelling investment from NYU Stern marketing professor and bestselling author Scott Galloway. Noble Mobile operates on the T-Mobile network, offering a unique "No-Bull Plan" designed to promote mindful phone usage and financial savings.

Noble Mobile's innovative model provides a flat $50 monthly plan for unlimited talk, text, and 5G data. Crucially, members who use less than 20GB of data per month receive cash back rewards, which can grow by 5.5% annually. This approach directly contrasts traditional carriers that often benefit from unused data on unlimited plans, positioning Noble Mobile as a consumer-centric alternative.

The inspiration for Noble Mobile stems from Andrew Yang's long-standing advocacy for a human-centered economy and his observations on the high cost of living for Americans. Yang noted his frustration with slow government action and sought to emulate Mark Cuban's CostPlus Drugs model to lower everyday expenses for consumers. He aims to tackle both financial burdens and the societal impact of mobile phone addiction.

Scott Galloway, a prominent investor and voice in business and technology, articulated his support for the company. As stated in a recent tweet, Galloway "explains his compelling thesis for investing in Andrew Yang’s Noble Mobile," further adding, "Noble Mobile flips the classic telecom model by rewarding users for less data usage. It’s transparent, it’s fair, and it’s exactly what consumers deserve. I’m excited to back this disruptor." This endorsement highlights the potential for Noble Mobile to challenge established industry norms.

The $10.3 million seed round was led by Corazon Capital, with additional investments from notable entities such as Circle Ventures, Idea Fund Partners, and Hustle Fund. Other key individual investors include Jim McKelvey, co-founder of Square, and David Ko, CEO of Calm. Noble Mobile also emphasizes robust data protections, pledging never to sell user data, and offers mindful tech tools to help members manage screen time.