Carl Pei, the co-founder of One Plus, is starting a new venture related to consumer electronics. Currently, he is raising funds from friends and family members. In the current funding round, Cred Founder Kunal Shah has invested In the new enterprise of Carl.
Current Funding and Other Details about Carl Pei New Venture
Current investment by Kunal Shah is a big boost for Carl. They did not disclose the amount of investment yet. Cred founder is quite excited about the new project of Carl Pei.
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,”
The current firm will be London-based. Other than the family, friends, and Cred Founder, the new venture got financial support from Reddit CEO and Twitch co-founder Kevin Lin. In December, Carl raised a total of $7 million in a seed funding round.
iPod inventor Tony Fadell, PCH founder and chief executive Liam Casey, prominent YouTuber Casey Neistat, Product Hunt chief executive Josh Buckley, and Web Summit founder Paddy Cosgrave supported his new idea with a different amount of investments.
Pei and Kunal Shah are old friends. Pei is quite happy with Kunal’s investment. He said that “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,“
As per Carl, the company will focus on audio products. Other details about the company operations are not yet known. New ventures functionalities are almost decided and Pei is very excited to announce it to the world. The official announcement of the new firm will take place on January 27.
Other Key Activities of Carl Pei and Kunal Shah
Pei is known for One Plus venture. He started One Plus in 2014 with the launch of very successful One Plus One smartphone device. Consumers called One Plus a flagship killer device. After 7 years of an amazing journey, he left One Plus in October.
Pei’s exit from One Plus is not smooth. As per the reports. He had major conflicts with One Plus founder Pete Lau. But Pei denied such rumors.
Pei was 24 when he started one plus journey. He spent most of his 20s in One Plus and evolved there. Pei said, ” leaving One Plus was like a birthday gift to myself. I wanted to explore something new. I have few ideas in my mind. I am a creative person. Still, too much creativity is unexplored within me. I am still in touch with One Plus founder. We at least weekly message to each other. My decision was shocking for him but we made it smooth.”
In December, Kunal’s CRED raised $80 million in its funding round. Other than Cred, Shah co-founded freecharge. In recent months, he is known as an investor in the startup ecosystem. Recently, He has invested in known startups like Unacademy, Khatabook, Razorpay, BharatPe, and others.
Kunal Shah is also an advisor to the board of Bennett Coleman & Co. Board. He is the Chairman of the Internet and Mobile Association of Indian and an advisor to Y-Combinator and Sequoia Capital India.