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Kreyos smartwatch is just the latest crowdfunded, wearable horror story

Jared Newman | Aug. 22, 2014
Ever since Pebble struck it big on Kickstarter, there's been no shortage of startups looking to cash in with their own smartwatches, fitness bands and gesture-control rings. But as backers of the Kreyos Meteor smartwatch have discovered, funding these projects on sites like Kickstarter and Indiegogo is a risky proposition, and one that rarely goes as planned.

Estimated delivery: July 2013

Status: The first "couple thousand devices" started shipping a couple weeks ago — more than a year behind schedule — according to an update on Amiigo's Website.

MEMI

The pitch:MEMI is a smart bracelet "made for women by women," with notifications for calls, text messages and calendar alerts.

Funded: November 2013 on Kickstarter for $101,144

Estimated delivery: August 2014

Status: An August 6 update says the product is taking more time and costing more money than its creators anticipated, so the makers have "decided to hit the pause button" on manufacturing until they can raise additional funds. Early backers shouldn't expect their bracelets until next spring.

Smarty Ring

The pitch: This high-tech ring has an LED display that shows the time and serves up notifications from iOS and Android devices.

Funded: December 2013 on IndieGogo for $297,699

Estimated delivery: April 2014

Status: The creators just announced a new design that promises 30 percent more battery life over the original, but it's very different from the original concept. Backers can apparently still get the original design if they want. There's no word on when either of the rings will ship.

HOT Watch

The pitch: This smartwatch has an earpiece that allows "private calling" similar to a smartphone. It also promises gesture controls, notifications and standalone apps.

Funded: September 2013 on Kickstarter for $616,231

Estimated delivery: December 2013

Status: The creators have reportedly started shipping one of its designs in a single band size, but most other models are still in production.

 

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