Pebble raised more than $1 million in less than an hour for its new smartwatch

Pebble already blew past its Kickstarter goal and raised $1 million dollars for its new smartwatch in less than an hour.

The company's Kickstarter campaign went live just before 10 am, and at the time of writing it's raised just over $1 million. Pebble's goal was set at $500,000, which it breezed past almost instantly.

The company, which broke Kickstarter's record for the most-funded project ever in 2012 when its first smartwatch launched, is currently raising money for its new Pebble Time watch.

Unlike its previous smartwatches, the Time comes with a color "e-ink" display and a new interface that makes it easy to see notifications relevant to you.

Those who backed the Pebble Time through Kickstarter early will get it for $159, but it will be $199 when it retails.