Carl Pei, the Swedish entrepreneur, who you would probably best remember for his dynamic leadership at tech company OnePlus, is set to announce his new consumer tech venture on January 27. And just days ahead of the announcement into the much-awaited reveal of the suspense, the new venture has not gotten its India touch too. CRED founder Kunal Shah is investing in the upcoming venture too. We still do not know at this time what Carl Pei’s next big venture would be all about, though he has teased that it’ll about music and audio, but insists it won’t just be hardware focused. CRED, founded in 2018, is a financial tech start-up that focuses on credit card payment services for premium users, the criteria being a good credit rating, and offers benefits on further spending.
As things stand, Carl Pei’s venture has already received $7 million in seed funding. The investors include American entrepreneur Tony Fadell who is Principal at Future Shape and is also known as the inventor or the iPod and the co-inventor of the iPhone, Steve Huffman who is the CEO at Reddit, Josh Buckley who is CEO of Product Hunt, Kevin Lin who is co-founder of Twitch and Paddy Cosgrove who is the Founder of Web Summit, to name a few. 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 Kunal Shah, in an official statement. “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,” says Carl Pei, before adding, “we are in advanced stages of our vision and are excited to introduce it to the world soon.” The exact details of Shah’s investment haven’t been revealed at this time, and neither is it confirmed if CRED will have any partnership with Pei’s new venture.
It was late last year that Carl Pei left OnePlus, after nearly 7 years at the company. It was during Pei’s time at OnePlus that the company launched a series of very exciting Android phones, starting many years ago with the OnePlus One, which introduced the flagship-killer concept for Android phones. It is believed that the mid-range Android phone, the OnePlus Nord’s development was closely tracked by Pei.
Earlier this month, Pei posted some rather interesting tweets in which he teased how the new venture will be giving the new Apple MacBook Air powered by the M1 processor to the employees and is also doing a Twitter giveaway. He also tweeted, “Just wait until we get
@Tesla company cars for the team.” There is still no word on what Pei’s new venture will be all about, but it is believed that the London based company will be focusing on audio products or services. Though he did say in an interview to Wired last year that the company wouldn’t just be about making music hardware such as headphones. “It’s so much more than that,” Pei said.