OnePlus co-founder, Carl Pei‘s Nothing Technologies on Wednesday announced Stockholm-based company Teenage Engineering as its founding partner.
OnePlus Co-founder Carl Pei’s consumer technology startup, Nothing has made an announcement on Wednesday. It named the Swedish audio brand Teenage Engineering as its founding partner. The Stockholm-based company is widely known for its specialization in industrial design. According to the announcement, it will take command of Nothing’s design. Pei’s startup, which is set to launch its first products soon, is also backed by CRED Founder, Kunal Shah.
Teenage Engineering is already developing highly acclaimed products for people who share a love of sound, music, and design. The company’s emblematic first product, the portable wonder synthesizer OP-1 launched in 2010.
Jesper Kouthoofd, co-founder and CEO of Teenage Engineering is the Creative Lead. And is also the visionary behind Nothing’s design world. While Tom Howard is heading as Head of Design of Nothing.
Furthermore, ‘Nothing’ also announced that it will open up for its community to invest in the company. The investment will take place through a community equity funding round. The company will allow its community to invest a total of $1.5 million at the same valuation as their ‘Series A funding with GV’.
Earlier, the firm acquired smartphone brand Essential that shut shop last year. According to 9to5Google, the brand launched by Android co-founder Andy Rubin Essential close shop last year as it did not succeed well. But now Pei’s Nothing Technologies is the official owner.