Cary-based Vectra Raises $200,000 in Debt

Vectra LLC, a software developer, has raised $200,000, according to a filing with the Securities and Exchange Commission.

The money was raised from one investor in the form of debt, according to the filing.

Vectra develops a software for mechanical design which allows clients to automatically generate engineering drawings from 3D computer-aided designs.

The software produces error-free drawings with quick turnaround times and low costs, according to the company website.

The Cary-based company is led by Chief Executive Officer Vinod Kettay. Prior to Vectra, Kettay worked as a program manager for General Motors until 2003 and a manufacturing engineer at General Motors until 1997.

Kettay graduated from the University of Alabama with an M.S. in industrial engineering in 1989.

Companies relying on the Rule 506 exemption do not have to register their offering of securities with the SEC, but they must file what’s known as a Form D electronically with the SEC after they first sell their securities.

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