Kunal Shah backs OnePlus co-founder Carl Pei's consumer electronics company

 

Serial entrepreneur Kunal Shah is backing the new venture of Carl Pei, the Swedish tech entrepreneur and co-founder of smartphone company OnePlus. Pei has received seed investment from Shah, who has added the London based venture into his portfolio. Pei is working on a stealth project that he plans to unveil this month.

“Kunal (Shah) 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 had already raised $7 million in a seed financing round for his new venture from friends and private investors including Tony Fadell (Principal at Future Shape and inventor of the iPod), Casey Neistat (YouTuber), Kevin Lin (co-founder of Twitch). The other investors include Steve Huffman (CEO of Reddit), Liam Casey (founder and CEO, PCH), Paddy Cosgrave (founder of Web Summit) and Josh Buckley (CEO of Product Hunt).

“Carl (Pei) is working on a new consumer electronics company that I am sure will be a disruptor in the tech-industry,” said Shah, who is also the founder of fintech firm CRED. “I am excited to be part of this journey.”

Shah has invested in multiple sectors through his career and this investment is in his personal capacity.

Budget News:  unionbudget2021-2022

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