The SmartThings Kickstarter campaign came to a close last night with 5,694 backers pledging a cumulative $1,209,423 for the forthcoming connected device platform. That is 384% over the initial $250k target set by the Physical Graph team just one month ago.
On a blistering pace out the gate, we witnessed the evolution:
- SmartThings launches $250k Kickstarter campaign
- Minneapolis startup SmartThings crowdfunds $250k – and counting
- SmartThings crosses half a million mark and gets cozy with Instacube
- SmartThings clears a million on Kickstarter
At $1.2m, SmartThings currently ranks as the #2 “most funded” Kickstarter technology campaign of all time, well ahead of similar projects like Twine and Sensordrone. Phase two will test the teams ability to execute as they are now committed to shipping over 5,000 hub devices (not counting peripherals and other software deliverables) by the end of this year.
A SmartThings win is a win for Minnesota’s tech community at large. While their recent success puts Minneapolis on the Kickstarter map like never before, it also indirectly broadens the exposure level of constant ingenuity stemming from Minnesota’s many emerging tech entrepreneurs and their respective startups.