US-based wearable technology provider Pebble has pledged $1m to a fund for startups developing and commercialising smart straps for its smartwatch, Techcrunch reported on Thursday.
Pebble raised $19.5m on crowdfunding site Kickstarter for its second-generation Pebble Time smartwatch last month. The watch is set to go on sale for $199 later this year, and could synchronise with Apple’s iPhone and the Android smartphone.
The company, which raised $10.3m in a 2012 Kickstarter campaign for its first watch, plans to monitor crowdfunding campaigns and solicit ideas for projects that incorporate added technology into a watch strap and will fund those it believes are the best.
Pebble closed a $15m in a series A round backed by early-stage venture capital firm CRV in 2013, after raising $375,000 from angel investors in 2011.
– Photo courtesy of Pebble Technology