OnePlus co-founder Carl Pei raises $ 7 million for his new firm


Carl Pei, The OnePlus co-founder, who left the company two months ago, has raised $ 7 million from a list of high profile investors for his new hardware company.

The Swedish tech entrepreneur said Wednesday it has received $ 7 million in seed funding rounds from friends and private investors including Tony Fadell (principal at Future Shape and inventor of the iPod), well-known YouTuber Casey Neistat, Kevin Lin (co-founder of Twitch)), Steve Huffman (managing director of Reddit), Liam Casey (founder and managing director of PCH), Paddy Cosgrave (founder of Web Summit), Josh Buckley (managing director of Product Hunt) and a group of former and current Stockholmers headquartered The Truecaller -Employees Kim Fai Kok, Nick Dahl and Zakaria Hersi.

Pei isn't sure what this new company is about or what it is even called, but said he'll talk more about it early next year. A source familiar with the matter told TechCrunch that the company will focus on audio hardware, at least initially. Pei said he plans to use the fresh capital to set up an office in London, hire talent and fund product research and development.

"I am deeply grateful and very excited that friends of this caliber are helping us build the next steps," said Carl Pei in a statement. "We plan to act aggressively against our vision and can't wait to see how the market will react."

Pei, who acted as the public face of the Chinese smartphone manufacturer OnePlus for years he surprised many when he announced in October that he was leaving the company. He was instrumental in developing the OnePlus line of smartphones over the years and in how the company marketed them and itself.

The news agency Android Central previously reported that 31-year-old Pei had left the company due to an "internal power struggle" between him and Pete Lau, the other co-founder of OnePlus. Lau, 45, took on an additional role as SVP at Oppo. The BBK Group owns OnePlus, Realme, Oppo and Vivo. OnePlus has always avoided questions about the ownership structure. OnePlus was asked for a comment in October and has yet to respond.

“Carl has spent the last decade making products that millions of people love. He understands exactly what consumers want and I can't wait for the world to see what he has in store next, ”said Josh Buckley, General Manager of Product Hunt, in a statement.