HYT welcomes financing for new proprietary technological launch

The Swiss independent luxury watch company HYT SA (HYT) and sister company Preciflex SA (Preciflex) had successfully raised CHF23 million for the launch of a new suite of Swiss made products that are expected to be available on the market within 36 months. Investors included the founders and existing shareholders, together with Peter Brabeck-Letmathe and the strategic anchor investor, a Swiss-based private asset management company that will also join the Board of HYT S.A. This Series C Financing will enable HYT to launch a new proprietary and powerful movement allowing case size reduction in addition to the introduction of multiple fluidic indications.