New Delhi, May 11 (IANS): Nothing Technologies, the newly-launched venture of OnePlus co-founder Carl Pei, on Tuesday announced that the first product from the company will be an earbuds called Ear 1, that aims to create a niche space in the highly-competitive earphones market.

‘Ear 1' will arrive on the scene in June.

"It's even stranger when we step back and see that 'Ear 1' is only the beginning, the first step in a long and exciting journey ahead," Pei said in a statement.

"Ear 1 is just the start. Design is still top secret but what we can tell you is that Ear 1 combines notes of transparency, iconic form, and refined functionality," Pei added.

The London-based company recently announced the Stockholm-based firm Teenage Engineering as its founding partner. Teenage Engineering has been developing highly acclaimed products for people who love sound, music and design.

Pei said that the company believes "the earphones market was begging for differentiation, a space where we can elevate design and deliver value from day one."

"Additionally, as an area of hyper growth, the earphones market will provide a fertile backdrop as we strengthen our capabilities and prepare to enter new product categories," Pei noted.

Nothing has so far raised over $22 million. In December, the company raised $7 million in seed financing December that included tech leaders and investors such as Tony Fadell, Casey Neistat, Kevin Lin, Steve Huffman and Josh Buckley.

The company also announced to open up for its community to invest in the firm through a community equity funding round.

Nothing had said it will allow its community to invest a total of $1.5 million at the same valuation as their Series A funding with GV (formerly Google Ventures).