In an announcement by Pebble, the creator of the e-paper smart watch that links to Android smartphones and iPhones, disclosed that it was able to receive US$15 million in Series A growth financing round from Charles River Ventures. The infused finances will be allotted for the expansion of the software engineering team, increase the open development program of Pebble and broaden the range to be able to meet the demand of the clients.

According to Pebble's founder, Eric Migicovsky, "The tremendous response we received from Kickstarter backers validated our belief in the value of a smart watch as a wearable computer, but also in the value an open platform brings to truly personalizing the watch to their daily activities."

Mr. Migicovsky further added that, "This new investment will help us build out the Pebble development ecosystem and deliver on Pebble's extraordinary potential."

Charles River Venture was founded in 1970 and holds office at  Menlo Park, California and Boston, Massachusetts. It is a start-up venture capital fund that provides support to its portfolio companies. Charles River Venture is one of the oldest and most renowned start-up venture capital firms with roughly US$2.1 billion funds under its management.