Pebble Technology, the company that made one of the best-selling smartwatches to date, seems ready to fight against Apple’s first smartwatch with a brand-new product of its own.

To better compete against Apple’s highly customizable device, Pebble has come up with a new smartwatch design that it first revealed on Tuesday as part of its newest Kickstarter project. And, unsurprisingly, the project is off to a great start, having already hit more than $5 million in pledges, or five times its initial $500,000 funding goal.

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With 31 days left in the new Kickstarter campaign, Pebble has already convinced more than 24,000 backers to pledge money to the device. The Pebble Time costs $179, the cheapest price available on the site right now, and should ship at some point in May.

The Pebble Time offers various interesting features, including a color e-paper display, a new timeline interface (which is coming to older Pebble models too), a microphone for responding to notifications, up to 7 days of battery life and support for more than 6,500 applications. The device will be available in three colors, exclusively on Kickstarter, and is supposed to be water resistant.

Interestingly, smartwatch accessory makers and Pebble Time buyers will have access to official 3D data to print out their own straps for the device in the future.

A video showing the device in action follows below.

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