I have one on my wrist as we speak. It has done everything it promised and does it well. The sms on the wrist is great. Knowing who is phoning before you dig out the phone is also great. Will it do more? so they [pebble] says but right now it does what I wanted and I got to help out some young people do some interesting stuff at a bargain price.
There are smartwatches available now:
I think what Apple and Google are working on are watches that connect using low-power Bluetooth to your phone, like this Pebble Technology watch, so the watch doesn't need to use much power. All the smarts are in the phone.
There is a lot of talk of a smartwatch. What exactly is it? Ability to install apps to expand the capability might be one of many. Sync with your smartphone and, time sync using RTP and GPS info would be nice. Sony Smartwatch seems to be able to accomplish all these plus more. The bigger downsize of smartwatch is battery life, 3-4 days for Sony smartwatch. I wonder why solar panel is not considered to at least extend the battery life.
For the Pebble watch, I am sure $10m can do better than this. I am looking forward to the next generation.
Its amazing that two unknown guys could raise 10m$ from the public and do this with no VC involved. shows that if you are a bit resourceful, you can easily fund a hardware startup even now. ANyways they have garnered so much attention that Apple, Samsung, Google,LG also want to do it and will have tough competition ahead.