\tThe company behind connected watch brand Kronaby reportedly filed for bankruptcy, after its backers pulled support for the loss-making company.<\/p>\n
Swedish publication The Local stated Chinese electronics manufacturing company Goertek pulled support for Anima, which offers products under the Kronaby name, as part of a wider withdrawal from operations beyond its core business.<\/p>\n
Pal Borge, CEO of Anima, said Goertek had given it one-and-a-half months to find new investors, but that this was not enough.<\/p>\n
\u201cWe have a number of leads which we will continue to work on, but we have not been able to finalise them,\u201d he said. He suggested the company needed a final investment round to take it to profitability, with a capital injection of a few million dollars needed to drive toward breakeven this year.<\/p>\n
WatchPro reported Kronaby is attempting to keep its business on track while working to find new support. A new backer would not be expected to take on debt, the paper said, citing Borge.<\/p>\n
The team behind the company met while working on accessories and wearables for Sony Mobile, continuing together after the Japanese company shifted the work back to its home country.<\/p>\n","protected":false},"excerpt":{"rendered":"
The company behind connected watch brand Kronaby reportedly filed for bankruptcy, after its backers pulled …<\/p>\n
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