Kreyos smartwatch crowdfunding campaign passes $1 million in contributions

The crowdfunding campaign for the Kreyos smartwatch project has passed $1 million in support, proving once again that backers love them wearables.

Kreyos is still at a fraction of the $10 million of support that Pebble raised last year, but it has managed to raise 10 times the amount it was asking for on IndieGogo. The campaign’s $1 million stretch goal was sleep tracking, which should be a nice addition to the device.

Unlike Pebble, Kreyos is touted as having support for Siri and voice control. The watch will retail for $169 and is scheduled to arrive later this year. Currently, backers can get a unit with a pledge of $139.

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While Kreyos is being billed as a smartwatch, the watch face also pops out from the band to hang on a belt clip or a lanyard.

Crowdfunded hardware projects have a reputation for suffering delays, but when I spoke to a member of the Kreyos marketing team, he assured me that they’re confident they can stick to the November release date. Make what you will of that, but at least the company’s willing to set a hard goal.

The smartwatch space is developing quickly. Research firm Canalys estimates that 500,000 smart watches will be sold this year, up from 330,000 in 2012. Assuming those numbers are correct, Pebble will represent a majority share of the market, as it has already garnered 275,000 preorders and shipped over 90,000 units.

➤ Kreyos