The new Pebble smartwatch was announced today, it is called Pebble Time and will cost $199 with a color display and a brand new interface. The watch launched on Kickstarter earlier this afternoon and has already raised over $1,000,000.

The crowd funding project was asking for $500,000 but it seems people were really eager to see a new Pebble watch, at the time of writing, just over 6000 people have backed the project. By the time you read this, that number will have likely increased significantly.

Key features of the Pebble Time watch include, a new colour e-paper display, seven days of battery life, water resistance, fully compatible with past Pebble apps and it will begin shipping in May.

The backing tiers on Kickstarter start at $159, 5000 people can buy an early bird Pebble watch at a slightly lower than retail price. After that, 20,000 people can pick up a Pebble Time for $179. You can spend $338 and get two of them, $845 will get you five watches, $1690 will net you ten Pebble Time watches and the final tier goes for $5000, which will reserve you 30 smart watches.

The original Pebble smartwatch was a huge success and was widely praised. Now we just have to wait and see if the new model can live up to expectations. You can take a full look at the Kickstarter page, HERE.

Discuss on our Facebook page, HERE.

KitGuru Says: The Pebble Time Kickstarter surpassed $1,000,000 in about an hour. If the project keeps up this pace, it may end up becoming one of the most successful projects ever. 

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