Carl Pei, the co-founder of OnePlus who left the company two months ago, has raised $7 million from a roster of investors, including iPod inventor Tony Fadell, who is currently serving as a principal at investment and advisory firm Future Shape. Among other investors participating in the round were Twitch cofounder Kevin Lin, Reddit chief executive Steve Huffman, PCH founder and chief executive Liam Casey, prominent YouTuber Casey Neistat, Product Hunt chief executive Josh Buckley, Web Summit founder Paddy Cosgrave and a group of former and current Stockholm-headquartered Truecaller employees, Kim Fai Kok, Nick Dahl, and Zakaria Hersi.

Pei remains tight-lipped on what this new venture would be about, or what it is even called, but said he would talk more about it in early 2021. Some rumors suggest it is audio and hardware related. The seed investment will be used to set up a head office in London, hire talent, and fund product research and development efforts.

When asked about his departure from OnePlus and co-founder Lau, Pei told Wired, “It was an amicable departure, and we’re still in touch,” he says. “We text each other once every couple of weeks. I told him [I was leaving] face to face at a cafe. I don’t think he saw it coming, but I very calmly laid out my gratitude and what I wanted to do next. We talked a couple of times [after that], and in the end, he agreed and is supporting me.”

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