Cred founder Kunal Shah has made an undisclosed seed investment in OnePlus co-founder Carl Pei‘s upcoming hardware venture.
Pei announced his new venture in December 2020. “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,” said Shah.
Carl had already raised $7 million in seed financing round for his new venture from friends and private investors including Tony Fadell (Principal at Future Shape & Inventor of the iPod), Casey Neistat (YouTuber), Kevin Lin (Cofounder of Twitch), Steve Huffman (CEO of Reddit), Liam Casey (Founder and CEO, PCH), Paddy Cosgrave (Founder of Web Summit) and Josh Buckley (CEO of Product Hunt).
“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,“ said Carl Pei. “We are in advanced stages of our vision and are excited to introduce it to the world soon.”
Pei’s new venture will be officially announced on January 27. The China-born Swedish entrepreneur has been the public face for OnePlus for many years till he announced his surprise exit from the company in October last year. Rumours suggest that Pei left OnePlus due to an of an internal power struggle with founder Pete Lau.