Exclusive. Is there a Vector Phone on the way? What is the plan of Andrei Pitis?

Newsroom 21/04/2016 | 17:23

Andrei Pitis, the founder of CTO of Vector Watch, was asked during the fourth SMEs How-To event organized by Business Review, if his start-up was interested in the smartphones market.

“Short answer, no Vector Phone. Our focus is on wearables,” said Pitis. He then tried to explain the trend in this market.

“If seems that phones are getting bigger and full of colors, while the watch remains on the wrist. It is not impossible. At the moment, work is under way on new screen technologies that could enter in production in the next one to two years. The screen is the biggest consumer of the battery,” said Pitis.

Vector is currently selling a smartwatch that boasts a 30-day battery life.

The start-up was founded in 2013 and it started selling smartwatches in October 2015.

Vector’s bigger backer is GECAD Group, which has put USD 4 million in the company to date.

In the last founding round that ended last November, Vector Watch got USD 5 million, out of which USD 2 million came from GECAD Group. Investment fund Catalyst Romanian and a group of high net worth individuals were also part of the funding initiative.

Pitis said the company has invested EUR 7 million up to now.

Recently, Vector has started selling watches in the Republic of Moldova.

Ovidiu Posirca

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