Funding is necessary for any business to start. In fact, it is one of the most important factors when it comes to translating an idea to a business module. It’s the time where anyone with a solid idea that can bring alive the next #Uber, or #Snapchat, because of Crowdfunding platforms. Crowdfunding has emerged as a savior for those entrepreneurs who have an interesting idea but lack the funding required to set it up.
We’re expecting 75-100% growth in US equity crowdfunding volume of capital raised in 2016, approximately $3.5 to $4 billion – David Pricco, Editor @ CrowdExpert.com
Much unconventional technological advancement is owed to the concept of crowdfunding. Here is the list of few of the most eminent and highly crowdfunded wearable products of 2016 in Kickstarter and Indiegogo.
Highly Crowdfunded Wearable Products of 2016
1. LVL – The First Wearable Hydration Monitor
While this wearable keeps all the usual norms and features like activity log and heart rate monitoring, it also claims to have a dedicated function of being able to manage hydration levels for the user.
It aims at being able to create a system of keeping the fluid levels to the optimum to give better health results to the user. The campaign aimed total contributions of $50,000 but ended up with an impressive tally of $1,186,983 making it a highly funded wearable product of the year.
2. Octopus – The Training Wheels For Good Habits!
This smartwatch designed exclusively for children aims at improving the sense of responsibility towards time. Developed by Joy, this device can allow the parents to make the daily activities look like games to the children through interactive and interesting reminders.
The idea is to create a smartwatch that can help the user keep track of the important physical factors like cardiovascular health and blood pressure to allow a healthier lifestyle. The project has seen huge acclamation from many people who are smitten by the features that even include an inbuilt GPS.
The target of collecting an amount of $100,000 has been broken and trashed long before with the present contributions to the amount more than a whopping $362,000; thus, making the campaign a grand success.
This seems to have come out right from science fiction movies. This smartwatch charger can keep the watch suspended mid-air while charging by using magnets and levitation technology. The makers of this product, Levitation works branded it as a cool and geeky gadget that would be hard to avoid for any technology enthusiast.
The project saw an impressive support from the people who contributed an amount of around $283,737 in pledges before the project was abruptly shelved. The reasons for cancellation were reported to be the sizing of the battery.
5. Poze – The Ultimate Posture Coach
This is one of the most promising postures correction devices, which has managed to attract many people. Being simple and easy to use, this device has the benefits of being handy as well.
Poze wished to collect a total of $8,000 from contributions but stands proudly at a collection of $134,094, while still time remains in the deadline making it one of the largest success stories of the recent times.
6. Fitsleep – Your Personal Lullaby
A good number of sleep monitoring devices are available in the market these days, and while they offer great features, Fitsleep takes the cake toppings when it comes to optimizing the deep sleep. With Fitsleep at your side, you can get easily in deeper sleeping owing to the E-Lullaby attribute in it.
The product aims at improving the sleep efficiency of the user through transmitting definite frequency sound waves to lull the mind. The target was to reach an amount of $130,882, which, however, has been exceeded by the company.
The idea of creating a smartwatch wearable that can measure the emotional metrics is catchy. Planextra wishes to create a device which when strapped on the wrist, can detect one’s mood, anxiety and stress levels.
Planextra had a target of achieving $100,000 but has collected about $130,000 from the campaign while the pre-order bookings for smartwatches still stand open.
8. Pomo Waffle – The First Fashionable GPS Smart Watch for Kids
The idea is to create the best wearable smart watches exclusively for the kids. Pomo House decided to create a kid-friendly wearable that offers smart like built-in location tracker and scheduling module.
The company wished to achieve a target of $30,000 but ended up collecting a whopping $58,039 so far, making the campaign a big success.
9. SenseON – A Clinically Accurate Heart Rate Monitor
Developed from medical grade materials, this device claims to be extensively accurate in measuring the heart rate. It is designed on the lines of band-aid and is placed on the chest while monitoring the heart beat during the day as well as sleep.
The product comes from CardioCycle, which is a Shenzhen-based company that has prior experience of working with such products. The company has successfully exceeded the target of $20,000 to $31,000 at present, and the pre-orders are still being taken on the website.
10. Mover Kit – Get kids Moving, Building & Coding
This kit from the London-based firm ‘Technology will save us’ aims at improving the quality of learning in children by letting them code the reactions to different motion in the form of variable color flashes from the wearable. The device usage motion sensors, accelerometers, compass and magnetometer to record the motion. The kids can assemble and improvise the device according to their will and end up creating interesting assemblies.
The company had put up a target of $50,000 in pledges, which have been eclipsed quite comfortably owing to the encouraging response from people. At present the total of 1822 backers, MoverKit achieved $129,311.
Crowdfunding has emerged as a really helpful and business-friendly concept. With more and more success coming through this method of investment, people are starting to trust its credibility. It can be safely expected that the tide will remain for the concept and the technology will grow along its lines as well.
Next To Read: 50 Best Wearable Tech Products of 2016