Pebble Time Kickstarter Raises Over $20 Million

Last month Pebble launched a crowdfunding campaign to bring its new smartwatch, the Pebble Time, to market. The campaign has finally ended. Just a couple of weeks into it this actually became the biggest crowdfunding campaign on Kickstarter ever. The finally number stands north of $20 million. This is one crowdfunding record that’s going to stay put for quite some time.

More than 78,000 backers contributed funds to this campaign on Kickstarter, raising a total of $20.3 million for the smartwatch. The previous crown for most funded campaign belong to the first generation Pebble smartwatch, that project raised $13.4 million.

For Pebble Time the company was actually seeking $500,000. This figure was achieved in merely a few minutes. The campaign actually broke a $1 million in under 49 minutes.

Since the campaign was raising so much money Pebble announced that it would contribute money from a $1 million pool for smartstrap projects that will work with the accessory port.

Now the company will start producing units which will then be shipped out to backers that purchased them at various point points. Later on Pebble Time will also be sold through conventional retail channels. The new smartwatch, and its steel variant, are expected to sell for $200 and $300 respectively at retail later this year.

Adnan Farooqui
Categories: Gadgets
Tags: Crowdfunding, Kickstarter, pebble, Pebble Time