India-based RHL Vision Technologies crowdfunds $200K for wearable device Fin
India-based RHL Vision Technologies was able to secure $200,000 worth of pre-orders for its wearable device product called Fin through the crowdfunding platform Indiegogo, The Times of India reported.
There were 1,600 people all over the world who pre-ordered Fin, a small hardware that can be worn on the thumb as a ring which can transform a user's palm to a sort of command platform. The sensors on Fin have the ability to recognize every finger segment or phalange as well as possessing Bluetooth so that it can be connected to your smartphone, TV or other wearable devices. By simply letting your thumb touch a particular segment, you can perform a function without the need to get your phone out. You can even use your palm as a remote control for your TV with Fin, the report said.
Fin had originally targeted for just $100,000 but extended that deadline to March 9 in the middle of last month when it realized that they could gather the amount much quicker than what they had originally projected. In the end, they were able to double the funding amount, the report said.
The product was developed by Rohildev N, a 2012 graduate of Kathir College of Engineering in Coimbatore. At the Startup Village in Kochi eight months ago, he set up RHL Vision Technologies to focus on touchless technologies which he began working on in his final year in engineering school, the report said.
The report quoted Rohildev as saying, "There's no effort, no stress. Unlike other touchless technologies, you don't have to raise your hand, wave your arms, nothing that tires you."
The first shipments are expected to be delivered sometime in September. While the price tag for Fin was pegged at $120 each, this could still be lowered with mass manufacturing, the report said.