The $7 million fund will help Pei set up a head office in London, hire talent, and fund product research and development efforts. (Image: Carl Pei)Carl Pei, OnePlus co-founder a few months back parted ways from the company he helped kick start back in 2013 along with Pete Lau, under Oppo. Back then not much was revealed about the next steps he would be taking with his career. Media reports claimed that Pei will start a new company focused on audio.
Pei has now announced that he has completed a $7 million round in seed financing from friends and family to start a new venture. As of now, he has not disclosed anything about the new venture, but has said that the details will be made available early next year.
The initial investment has been made by a group of prominent people including iPod inventor Tony Fadell, who is currently working as a principal at investment and advisory firm Future Shape, Twitch cofounder Kevin Lin, Reddit chief executive officer Steve Huffman, PCH founder and chief executive officer Liam Casey, YouTuber Casey Neistat, Product Hunt chief executive Josh Buckley and Web Summit founder Paddy Cosgrave.
The $7 million fund will help Pei set up a head office in London, hire talent, and fund product research and development efforts.
“I am deeply grateful and tremendously excited to have friends of this caliber supporting us in building what’s next,” said Carl Pei. “We plan on moving aggressively against our vision, and can’t wait to see how the market will react.”
“Carl spent the last decade making products that millions of people love. He deeply understands what consumers want, and I can’t wait for the world to see what he has in store next,” said Josh Buckley, CEO of Product Hunt.
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