An electronic paper watch designed by a
Canadian entrepreneur to work alongside
smartphones has raised more
than $3m (£1.8m; 2.2m euros) in less than
a week on net funding site Kickstarter.
Canadian entrepreneur to work alongside
smartphones has raised more
than $3m (£1.8m; 2.2m euros) in less than
a week on net funding site Kickstarter.
It is a record for the site which crowdsources
cash to fund start-ups.
cash to fund start-ups.
Eric Migicovsky initially sought $10,000 over a
five-week period but the total, six days in,
now stands at $3.4m.
five-week period but the total, six days in,
now stands at $3.4m.
It is the fifth Kickstarter project to make more
than $1m.
The Pebble watch reached the $1m mark in
28 hours. The firm behind the device, which
has been designing
smartwatches for three years, said that it was "blown away" by the support.
28 hours. The firm behind the device, which
has been designing
smartwatches for three years, said that it was "blown away" by the support.
The watch has an electronic paper screen and connects via Bluetooth with iPhones or Android powered
devices to allow users to customise the watch face and download apps.
devices to allow users to customise the watch face and download apps.
The display stays on at all times and is backlit for
night viewing. The firm says that the rechargeable
battery will last a week.
night viewing. The firm says that the rechargeable
battery will last a week.
It can display distance and speed for runners and
cyclists, control a smartphone's music, and show
emails, messages and reminders.
cyclists, control a smartphone's music, and show
emails, messages and reminders.
The watch will go head to head with an Android-
compatible device released in April by electronic
giant Sony Corp.
The Sony Smartwatch costs $149.99.
compatible device released in April by electronic
giant Sony Corp.
The Sony Smartwatch costs $149.99.
New engineers
Mr Migicovsky said that he turned to Kickstarter
after failing to raise interest among more traditional
Silicon
Valley investors.
after failing to raise interest among more traditional
Silicon
Valley investors.
"We tried to raise money, it was impossible. No-one really wants to fund hardware projects right now, except for
the people that want to buy them," he said.
the people that want to buy them," he said.
He said he would use the cash injection to boost Pebble's team of six by several more engineers to develop new
features for the watches.
features for the watches.
Under the Kickstarter model, a project's developer
must set a deadline for reaching its funding goal.
must set a deadline for reaching its funding goal.
If time runs out, no money changes hands which
Kickstarter says protects both parties as buyers do
not pay
until developers have adequate funds to develop
their project.
Kickstarter says protects both parties as buyers do
not pay
until developers have adequate funds to develop
their project.
The site's first $1m project was Double Fine Adventure,
a San Francisco-based video games developer.
a San Francisco-based video games developer.
By the campaign's end it had reached a total of $3.4m
from more than 87,000 supporters for its point-and-click
adventure game, making it the first games firm to
be bankrolled by internet-pledged cash.
from more than 87,000 supporters for its point-and-click
adventure game, making it the first games firm to
be bankrolled by internet-pledged cash.
Pebble looks set to raise a lot more. The watch will go on sale to the general public at about $150, according to the
firm, although those pledging cash will get discounts.
firm, although those pledging cash will get discounts.
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