Kunal Shah, Cred founder has invested an undisclosed amount in Carl Pei’s new venture. Pei left OnePlus back in October 2020 to work on starting his own venture.
Kunal Shah said, “Carl is working on a new consumer electronics company that I am sure will be a disruptor in the tech industry. I am excited to be part of this journey.
Pei said “Kunal is one of the sharpest people I know. I am proud and glad to have him as a friend, advisor and now also an investor. We are in advanced stages of our vision and are excited to introduce it to the world soon.”
Previously, the OnePlus co-founder, has raised $7 million in seed financing to start his new startup. The audio startup is set to be unveiled sometime early next year.
The round was led by iPod inventor Tony Fadell, YouTuber Casey Neistat, Kevin Lin – Twitch co-founder, and also saw participation from Reddit CEO Steve Huffman, Liam Casey – PCH CEO, Josh Buckley and Paddy Cosgrave – Web Summit founder.
In statement to Wired, he stated – “I am grateful and tremendously excited to have friends of this caliber supporting us in building what’s next. We plan on moving aggressively against our vision, and can’t wait to see how the market will react. This seed investment will support the creation of a head office in London, hiring of the team, and finance ongoing product research and development efforts.”
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.