2013 Was A Banner Year for Crowdfunding Wearable Tech
Wearable tech and crowdfunding go hand-in-hand. Ever since Pebble literally “kickstarted” the wearable craze back in 2012 raising over $10 million dollars for its smartwatch, the wearable and crowdfunding space has never been the same.
Crowdfund Productions performed a study of 300 wearable tech projects on various crowdfunding platforms and have illustrated its findings in an infographic we have for you below.
The team at Crowdfund Productions identified that over $44,989,335 has been raised for wearable projects using crowdsourcing platforms at the time of this report. Most of this is from Kickstarter which had raised triple the amount of funds compared to Indiegogo.
Kickstarter also saw a higher success rate, being eleven points higher than Indiegogo when looking at the percentage of campaigns that successfully raised their funding goals.
2013 was a banner year for crowdfunding on both of these popular platforms. 68 wearable projects were successfully funded in 2013 compared to 19 in 2012. This totalled over $18.8 million dollars in funds. But it looks like 2014 is set to surpass this number with 45 projects already funded in the first quarter alone.
Crowdfunding Wearable Technologies Infographic