Private equity fund Catayst Romania will invest EUR1.5 million in Vector Watch research and development operations.
Other participants in the financing were Radu Apostolescu and Bogdan Vlad (entrepreneurs and investors, eMAG cofounders), as well as Mihai Popescu (23-year experience in the development of IT platforms and services).
Vector Watch start-up was established in 2014 by entrepreneur Andrei Pitis. The company has offices in London, Silicon Valley, Amsterdam, Hong Kong and Bucharest.
Vector Watch smart watches are developed in Romania, from projecting and design to the software and hardware platforms, and assembled in China.
The business, launched last year in Romania, is headquartered in London and managed by a former general manager of watch producer Timex, Joe Santana.