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Apple Watch rival raises $1 million in under an hour

February 24, 2015, 4:14 PM UTC
Pebble Time
Pebble Time
Pebble

Even as the world eagerly anticipates the arrival of the Apple Watch this April, other smartwatch makers are gearing up for a fight — including one that set a new record Tuesday.

Pebble’s new Pebble Time smartwatch raised $1 million in under an hour on crowdfunding platform Kickstarter Tuesday. The Pebble Time, which has a new color screen and a battery life of up to seven days, is the fastest Kickstarter project to hit the million-dollar mark.

The Pebble Time Kickstarter project will continue raising money for another month, meaning it could become one of the most-funded Kickstarter projects ever by the time it’s done. Pebble’s Kickstarter success isn’t entirely surprising: The company launched its first smartwatch on the platform three years ago and has since been a darling of the community there ever since.

Kickstarter will also get a nice boost from the Pebble Time’s success: The crowdsourcing platform takes 5% of total funds raised for successful projects plus payment processing fees.