A new smartwatch brand has secured millions of dollars of investment in just a few weeks through a group funding scheme.
Pebble is a brand of so-called smartwatches that sync with iPhone and Android smartphones to receive calendar updates, emails and texts, and show caller IDs. It can also control music devices, be used for sports timing and activities such as range finding for golfers, as well as being customisable through downloading apps.
The brand’s founders took to group funding website Kickstarter with an initial goal of raising US$100,000 (£62,000) but with 17 days still left to go the brand has raised more than US$7.5 million (£4.6m) from 50,807 pledges.
Kickstarter works by asking large numbers of people to invest low amounts into creative businesses or projects. To inspire so-called backers to pledge money Pebble offered up its watches – for example, if a backer pledges US$115 (£70) they will be sent one of the watches, which will have a retail price of more than US$150 (£92), or if a backer pledges US$10,000 (£6,000) or more they will be sent a distributor’s pack of 100 watches.
Pebble has been working on the smartwatch for more than three years and while it is still at the prototype stage it is nearing production, something that it said the successful investment it has gained through Kickstarter will spur on.
The window is still open for individuals to pledge money to help Pebble towards its goals, which can be done by clicking here.