Vector Watch has received further investment of $5 million, led by Bucharest based early stage technology investor GECAD Group. Other investors in this round include Catalyst Romania and a group of high net worth individuals. With this recent investment, GECAD Group remains the single largest shareholder of Vector Watch. Vector Watch is a technology company with offices in London, Silicon Valley, Amsterdam, Hong Kong and Bucharest. Vector has developed a proprietary low power operating system for wearables which allows its current range of Luna and Meridian smart watches to run on an unprecedented 30-day battery life. Manufactured from stainless steel for a premium aesthetic, Vector’s models pay homage to the minimalism of the traditional wristwatch with a sleek, understated look and a focus on simplicity. Joe Santana, CEO at Vector Watch said: “We are extremely pleased to receive new investment in Vector and look forward to the exciting new developments this latest round of investment presents us with. We have a strong team of developers who are working with well respected names in the wearables industry with the aim of rolling out our innovative platform so it eventually becomes an industry standard for the wearable sector.” About Vector Watch: Vector Watch designs & develops wearable technology to simplify lifestyles. Committed to delivering the highest quality of craftsmanship, we combine impeccable design and exceptional materials with cutting edge software and a unique user experience to enrich the lives of our customers. Our intelligent technology provides discreet & relevant information to help streamline the complexities of day to day life, whilst retaining the aesthetic & elegance of a premium timepiece. About GECAD Group: GECAD Group invests in companies with high growth potential with the ability to innovate and deliver new ideas and products in their markets. GECAD Group primarily focuses on software and hi-tech companies, including security software, cloud technologies, eCommerce and payment methods. Key investment criteria include a credible technology roadmap to support products that are innovative and have the potential for a global roll-out. Amongst others, GECAD Group has successfully exited from three of its major investments: RAV Antivirus acquired by Microsoft in 2003, Gecad ePayment International by Naspers in 2010 and in 2013 Francisco Partners private-equity company acquired Avangate. About Catalyst Romania Catalyst Romania is a fund from 3TS Capital Partners, one of the leading European technology focused private equity and venture capital firms. 3TS provides expansion capital and buyout for small and medium-sized businesses in growth sectors including Technology & Internet, Media & Communications and Technology-Enabled Services.
New record: sales of RON 1.14 billion in the first 9 months, higher by 6.4% compared to the same period in 2023 Normalized net profit increase of 66.3% compared to 9 months 2023, to RON 71.4 million, almost 90% of the normalized profit of the entire previous year EBITDA margin reached 11.3% in the first […]
Romania's interior minister, Cătălin Predoiu, expressed cautious optimism about the country's prospects for full Schengen accession following a meeting scheduled for November 22 with Austrian interior minister Gerhard Karner. Speaking on local news channel Antena 3, Predoiu stated that "the pieces are quite well placed" for progress on accession with land borders,
Romgaz (BVB: SNG), the largest producer and main supplier of natural gas in Romania, will list its first bond issue, worth EUR 500 million and aimed to finance the Neptun Deep offshore gas project, on the Bucharest Stock Exchange on November 19. In October, Romgaz issued the first EUR 500 million tranche of a EUR […]
Left without heating after a coal-fired unit at Electrocentrale Craiova broke down, Ford Otosan’s automobile plant in southern Romania ceased operations on November 13, Profit.ro reported. The losses at the factory that is producing some 1,000 automobiles and 1,700 EcoBoost...
Bucharest Exchange-listed Premier Energy Group, active in the renewable electricity generation and energy supply activities in Romania and Moldova, announced its revenues rose by 25% y/y to EUR 816 million in January-September and by 61% y/y to EUR 303 million in Q3 alone, driven by both organic performance and strategic acquisitions. The net profit, however, shrunk […]
Romania's leading energy producer, Hidroelectrica (BVB: H2O), announced its output decreased by 22% y/y to 11.35TWh in January-September, citing both market conditions (a change in the regulations that resulted in volatile prices and volumes traded) and adverse hydrological conditions. The revenues contracted by 25% y/y to RON 7.2 billion (EUR 1.44 billion), roughly in line […]
