How one man’s success on Kickstarter launched the Era of Wearable Tech
Fsp Invest, 02 Jan. 2014
Eric Migicovsky’s company, Pebble Technology, created a smartwatch with a black and white ‘e-paper’ display that instantly notifies the wearer about incoming calls and text messages by vibrating. Thanks to an open API (application programming interface); there are thousands of apps for the Pebble. You can create a custom display, add data from feeds you’re interested in or even watch stock prices! It’s an ingenious idea with mass appeal. To prove it, the Pebble raised $10,266,845 on the crowdfunding site Kickstarter in just 37 days! And this proves there’s a MASSIVE market for wearable tech. Let’s take a closer look at how you can benefit.
Let’s take a closer look at the Pebble before we do anything else.
Pebble is an e-paper watch for iPhone and Android. It communicates with your smartphone via Bluetooth 4.0 (and you thought Bluetooth was dead, right?)
It was a 1.26-inch, 144 x 168-pixel sharp memory LCD with an LED backlight.
It has a battery life of between 5 and 7 days and a water resistance rating of 50m.
If you’re a developer, you can create apps for the Pebble using Pebble’s Software Development Kit. And you can customise alerts and notifications using web services like IFTTT, according to Wired Magazine.
The Pebble will stay connected if within nine metres of a smart phone.
You can get a hold of your Pebble at getpebble.com for $150.
Enter the Era of Wearable Tech!
Apart from the obvious convenience of this kind of product and the way it’ll make your life simpler, the important thing to take away from all this is that wearable tech is now very, very much in vogue.
Though venture capitalists initially dismissed Migicovsky’s idea out of hand, one thing is clear:
There is a huge market for products like the Pebble, and for the investor interested in riding the digital wave, there are opportunities opening up in the wearable tech market…
Bet those venture capitalists Migicovsky approached are sorry they lagged now that Pebble Technology’s raised millions of dollars on Kickstarter…
In fact, within 6 days of launching the crowdfunding campaign, Pebble broke Kickstarter’s funding record.
There are currently about 18 smartwatches on the market, including the $299 Galaxy Gear smartwatch from Samsung and the Toq smartwatch from Qualcomm.
The bottom line: watch out for new wearable technologies like this, don’t be afraid to join the cause on Kickstarter and don’t be stingy with your venture capital when it comes to wearable tech.