Pebble Time launches 27 May despite rumoured financial troubles

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Pebble has just updated its Kickstarter page with the news that first run of Pebble Time smartwatches will ship on May 27th, and that every order that was placed on Kickstarter will ship to customers by mid-June.

Pebble Time available next week

The Kickstarter page says that:

Great news: the first batch of Pebble Time shipments are scheduled to go out Wednesday, May 27. With things moving along at this rate, we expect all Pebble Time Rewards to be manufactured by the end of the month. Every backer with a Pebble Time included in their selected reward tier should receive a tracking number from us by mid-June.

Even though the company managed to raise $20 million via its Kickstarter campaign, various online sources say that the company needs additional funding in order to stay afloat.

TechCrunch in particular says that “sources close to the company” say that Silicon Valley venture capitalists have denied requests for new capital, and that the company has sought a $5 million bank loan and $5 million in credit.

Pebble Time Assembly

Of course it doesn’t help that the smartwatch market is becoming very competitive lately, with the Apple Watch receiving most of the attention in terms of the media. Apple’s wearable is reportedly selling more than 30,000 units a day (more than the iPad and iPhone did when first launcheD) and sold more in the first 24 hours of pre-order availability than all the Android Wear watches combined ever sold (in several years).

RELATED: Pebble Unveils Pebble Time Steel and Smartstrap System

There will also be a new Pebble Time Watch app available next week for Android and iOS. The app will be an exclusive for Pebble Time models, as shown in the video at the top of this page.

Pebble says it has removed the limit of 8 apps on the watch, and it can now store as many as possible in its storage, and can download more on-demand from your phone. You can also drag and drop the order in which apps appear on the phone, and the order will be mirrored on the Pebble Time itself.

SOURCE: Kickstarter

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