The authors of Latvian wooden wristwatch project OVI Watch have closed their fundraising campaign on the crowdfunding website Indiegogo with USD 4,655 (EUR 4,243) in total, while the goal was to raise USD 12,000 (EUR 10,938) for launching production of the wristwatch.
Although the team has fallen short of the goal of the campaign (collecting just 39 percent of the amount needed), the project will receive funds from all 63 supporters.
According to Dāvis Paipa, one of the co-authors of the project, production of the timepiece will commence even though it has not been possible to raise the entire amount of funding necessary for the project. The campaign has helped promote the product and drawn attention of several investors from abroad, he added.
OVI Watch is available in elm, cherry-tree, walnut, and teak versions, with calfskin straps and Swiss clockwork.
SIA Oviwatch was set up this past January by Paipa, Gvido Asns and Zintis Šnitceris, each holding an equal share in the company.