Romanian entrepreneur Radu Georgescu makes seed investment in smart watch startup

Newsroom 17/07/2014 | 17:30

Vector Watch, a startup that makes smart watches, announced that it has attracted a seed investment of EUR 500,000 from Gecad Group, which is controlled by entrepreneur Radu Georgescu (in picture).

Vector Watch is based in Bucharest and has 10 employees. The startup will launch the first collection of smart watches towards the end of the year.

Previously, Gecad has invested in a series of technological companies such as RAV, ePayment and Avangate.

“We are investing in companies that have the capacity to change the markets where they are present and we believe that Vector Watch is such a startup,” said Georgescu, founding partner at Gecad Group.

Vector Watch was founded in the last quarter of 2013 by Andrei Pitis, currently founder and CEO at Vector Watch. Pitis is also president of the National Association of the Software Industry (ANIS).

“This investment will help us finalize the design of watches and making a zero series that is not for sale,” said Pitis.

Previously, he was formerly general manager at Ixia Romania, and now has returned to being an entrepreneur after being an angel investor in technological companies such as CleverTaxi.

He was joined by co-founders Irina Alexandru and Dan Tudose, who have experience in product and hardware design, as well as other hardware engineers, designers and software developers.

Currently, Vector Watch has offices in The Netherlands and Romania.