Wristcam Raises $25M for Apple Watch Accessories

Facebook and the Rise of Wrist-Worn Cameras

Reports surfaced last week indicating Facebook’s intention to expand its hardware portfolio with the development of a dedicated smartwatch. A particularly noteworthy aspect of these reports is the planned integration of dual cameras into the device.

While several companies specializing in wearable technology have experimented with cameras on wrist-worn devices, this functionality hasn’t yet achieved widespread adoption.

Wristcam Pioneers the Technology

Apple, a dominant force in the industry, has not prioritized this feature. Consequently, Wristcam proactively introduced a solution with its camera-equipped band, capable of capturing images in 4K resolution and video at 1080p.

This product became available following a successful crowdfunding initiative late in the previous year.

Securing Funding for Expansion

The company is now pursuing conventional funding avenues, having secured $25 million in a funding round spearheaded by Marker LLC. According to CEO Ari Roisman, these funds will be allocated to expanding the team, increasing Wristcam production, enhancing marketing efforts, and furthering the development of its computer vision engine for wearable devices.

This investment will facilitate a doubling of the company’s workforce by early next year, and will also address user feedback and concerns gathered during the product’s initial “public beta” phase, which began in December.

Upcoming Features and Sales Performance

Among the planned enhancements is the implementation of live video streaming. Wristcam has reportedly sold “thousands” of units, currently priced at $299 directly through their website – a price point $20 higher than the Apple Watch SE.

The company encountered supply chain disruptions due to the COVID-19 pandemic earlier this year, but has since resolved these issues and is now processing orders on a daily basis.

Competition and Future Outlook

Despite Facebook’s apparent interest in wrist-based imaging technology, Roisman expressed confidence, stating he doesn’t anticipate significant competition from Apple in this specific area.

“I anticipate cameras will remain central to Apple’s iPhone strategy, continually striving for DSLR-level image quality, including professional models exceeding $1,000 in price,” Roisman explained. “Conversely, I foresee Apple Watch continuing to emphasize quantified health and wellness metrics, rather than features demanding substantial power, data processing, and device real estate that might conflict with the iPhone’s core functionality.”