CRED Founder Kunal Shah Invests In Former OnePlus Co-founder Carl Pei's New Venture

Pei had raised $7 million seed financing from prominent investors in December

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CRED Founder Kunal Shah on Thursday said he has invested an undisclosed sum in Swedish tech entrepreneur and former co-founder of brand OnePlus, Carl Pei's new venture announced last month, adding Pei’s London-based venture into his portfolio.

Facebook/Carl Pei

“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 Shah.

The 31-year-old Swedish tech entrepreneur’s new venture will be officially announced on 27 January 2021.

“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,” said Carl Pei. “We are in advanced stages of our vision and are excited to introduce it to the world soon.”

Pei has already raised $7 million in a seed financing round for his new venture from friends and private investors including Future Shape principal and iPod inventor Tony Fadell, YouTuber Casey Neistat, Twitch co-founder Kevin Lin, Reddit chief executive officer Steve Huffman, PCH founder and chief executive officer Liam Casey, Web Summit founder Paddy Cosgrave and Product Hunt chief executive officer Josh Buckley.

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