Neil Young is hoping to raise at least $2.5m on the Crowdfunder site for his PonoMusic venture by offering shares in the company.

In March 2014, Young raised $6.2m on crowdfunding website Kickstarter for PonoMusic.

Young’s new campaign will allow public to invest in the high-end music player for as little as $5,000.

According to a statement quoted by Rolling Stone, Crowdfunder will use a “Special Purpose Fund” to “house all these smaller investors into a single entity which invests as one investor in Pono.”

“Neil and the team at PonoMusic are excited about democratizing the financing process by giving their Kickstarter backers, and anyone who loves music, the opportunity to now invest and become an owner in PonoMusic,” reads the statement.

This latest campaign is due to end on September 1.

Pono is expected to expected to launch in October.