New Delhi, Jan 21: CRED Founder Kunal Shah on Thursday said he invested an undisclosed sum in OnePlus Co-founder Carl Pei's new venture announced last month. The Swedish tech entrepreneur co-founded OnePlus in 2013 at the age of 24. After nearly seven years, he made the "difficult decision" of leaving the company in October 2020. OnePlus 9 Likely to Come With Flat Display and Reverse Wireless Charging Support: Report.

"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 on his investment.

Shah has invested in multiple sectors through his career and this investment is in his personal capacity. He founded members-only credit card management and bill payments platform CRED in 2018.

"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 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 seed financing for his new venture from friends and private investors including Tony Fadell (Principal at Future Shape & Inventor of the iPod), Casey Neistat (YouTuber), Kevin Lin (Co-founder of Twitch), Steve Huffman (CEO of Reddit), Liam Casey (Founder and CEO, PCH), Paddy Cosgrave (Founder of Web Summit) and Josh Buckley (CEO of Product Hunt). Pei's new venture will be officially announced on January 27.

(The above story first appeared on LatestLY on Jan 21, 2021 04:28 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).