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Chinese Pozible campaign beats target in under a minute

One of the first Pozible crowdfunding campaigns in China has proven extremely popular, hitting 2000 per cent of its target in one hour

Aussie crowdfunding group Pozible is now open for business in China and one of its early campaigns has proven immensely popular.

(Screenshot by Nic Healey/CNET)

Meet the Gyenno One. It's a fitness tracker — a wrist-based device that monitors sleep and physical activity. It's waterproof, syncs wirelessly and also functions as a watch. To back it at its lowest tier the company was asking for 399 Yuan or AU$69, which got you one of the devices.

Launched at midday on 22 April, it had thoroughly beaten its 10,000 Yuan (AUD$1715) target within one minute. By 1pm it had reached 2000 per cent of its target. As of the time of writing it had hit 368,598 Yuan (AUD$63,107), or 3685 per cent of its initial goal. And there are 29 days left in the campaign.

Pozible co-founder and director Rick Chen is a Chinese-born Australian resident who recently returned from Shanghai after setting up the Pozible office in China. In a media statement he said that the products he saw while in Shanghai were "very cutting edge and sophisticated in terms of the quality of materials, concepts and technology".

Chen said that Pozible was well-positioned in the crowdfunding community to work in the Chinese market:

We do not have the restrictions placed on geography that many other crowdfunding platforms do. We are excited to take on crowdfunding projects from across the globe and offer the best in creativity for anyone to access