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Pebble Time raises a record $20 million on Kickstarter

Pebble is one the few startups that knows how to get the most out of a Kickstarter campaign. Three years ago, it was the first on the crowdsourcing platform to raise more than $10 million (£6.7 million) in funding, and now it is the first to have broken the $20 million (£13.5 million) mark. Pebble's latest record is likely to last for a while, seeing as it took over two years for its first one to be broken.

At the time of writing this article, Pebble's Time campaign (opens in new tab) has attracted nearly 78,000 backers, who have pledged $20.16 million (£13.6 million) in total. The average contribution is $258.9 (£174.5), which exceeds the latest asking prices of $179 (£120) for Time and $250 (£168) for Time Steel (opens in new tab).

Pebble estimates that it will deliver both versions of its latest smartwatch in June, which will retail for $199 (£134) and $299 (£201), respectively. Time Steel was introduced, shortly after the campaign started, in response to Apple Watch, which will soon go on sale with prices starting at $349 (£235).

A little over a month ago, Pebble's latest campaign had received (opens in new tab) $8.5 million (£5.7 million) in funding from nearly 40,000 backers. The $159 (£107) pledge - the initial asking price for a Time unit - was the first to run out. There are still a couple of spots left for the $250 (£168) pledge, which gives backers Time Steel with leather and metal straps. Pricier pledges, however, haven't been as popular.

Time packs a colour display, which a first for a Pebble, has a microphone for voice control, promises at least 7 days of battery life (Time Steel raises the estimate to 10 days), and is compatible with 7,500 existing Pebble apps. It, of course, works with both Android and iOS, unlike Android Wear and Apple Watch which are, so far, limited to a single platform, Android and iOS, respectively.

Get a top of the range smartwatch for yourself by clicking on one of the links below:

Fitbit Surge (opens in new tab)

Pebble Steel smartwatch (opens in new tab)

Sony Smartwatch 3 (opens in new tab)

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