[THE INVESTOR] Bagel Labs, a smart tape measure startup, has raised $1.35 million on Kickstarter, a crowdfunding website.
The firm, which participated in a startup nurturing program by K-ICT Born2Global Center, a state-funded startup incubator, ran the fundraising campaign on the crowdfunding platform from June 29 to Aug. 3.
Bagel, a smart tape measure developed by Korean startup Bagel Labs. Bagel Labs
The $1.35-million fund raised during the campaign -- a record amount for Korean startups on the website -- is 4.5 times the firm’s initial goal and is among the top 0.4 percent bracket.
The company said 10,766 people participated in its Kickstarter campaign.
The measuring tape can measure distances in three different modes -- string, wheel and remote.
One can measure distances, in the traditional manner, with a string that can be pulled out from the tape or by rolling the wheel installed in the tape along a surface. The distance will appear on a screen fitted on the smart measuring tape. A user can use an ultrasonic sensor to measure a distance from one point to another.
The company has started a new round of crowdfunding campaign on the platform Indiegogo.
By Kim Young-won (firstname.lastname@example.org)