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.
Romania’s president Nicuşor Dan signed 96 decrees approving the retirement of magistrates on August 1, with most leaving the judiciary immediately and the remainder scheduled to retire on September 1, Cursdeguvernare.ro reported. Among those stepping down is Corina Corbu, President of the High Court of Cassation and Justice (ICCJ). The wave of retirements...
The number of new cars registered in Romania dropped by 16.4% y/y to 80,718 in January-July despite a 25.3% y/y rise to 16,362 units in July, according to data published by the Romanian Car Manufacturing Association ACAROM. The lack of state grants for new car purchase, promised by the Ministry of Environment for December, certainly contributed […]
Raiffeisen Bank has cut its projection for Romania’s economic growth in 2025 to 0.7%, citing the impact of a challenging global trading environment and slowing international demand, the Austrian lender said in its semi-annual report. The bank now expects Romania’s gross domestic product (GDP) to grow by 1.3% in 2026,
The system of pensions paid to military personnel should be changed gradually until 2035 to avoid losing personnel, minister of defence Ionuț Moșteanu said in a Digi24 interview, implying that the European Commission...
Romanian finance minister Alexandru Nazare, in an interview given to Digi24, said that the payment of pensions and wages in the budgetary sector depends on the budget amendment that must earmark supplementary funds to these categories, Cursdeguvernare.ro reported. Romania...
The Romania Manufacturing PMI index, calculated and published by BCR Erste Group, deteriorated to 48.4 in July from 48.7 in June as all the components but the inventory (stocks of purchases) made a weaker contribution in the month. Demand (new orders) component returned to its 1-point negative contribution seen a year ago, after the deep […]
