Pebble Time rakes in $20 million in Kickstarter record

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Pebble’s all-new smart watch, the Pebble Time, launched on Kickstarter to much fanfare last month, and has closed on Saturday with more than $20.3 million in funding.

Pebble Time raises $20 million

The Pebble Time smart watch has a colour e-ink display, seven day battery life, a 20 percent thinner body and is waterproof. The watch was available during the Kickstarter campaign for $179 instead of the normal retail price when it is released which will be $199.

Pebble Time Funding

RELATED: New Pebble Time smart watch revealed, funded by Kickstarter

The company raised $20,338,986 from 78,471 backers over the space of a month. Perhaps that’s been helped by the publicity surrounding smart watches in the last three months, as Apple gears up to launch the Apple Watch.

Pebble Time’s campaign in fact managed to break two Kickstarter records; the first on the launch day for becoming the fastest project to raise a $1 million (in 49 minutes) and the second the subsequent week when it became Kickstarter’s most-funded campaign (ahead of the Coolest Cooler at $13 million).

The new watch will start shipping to Kickstarter backers this May.

Would you buy a Pebble Time smart watch? Or do you prefer some of the others on the market or about to be released this year? Let us know in the comments below…

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