Pebble in trouble?

The original smart-watch, the one that started it all by being a super publicized Kickstarter campaign, might be in trouble.

As reported by the good guys over at TechCrunch, Pebble has reportedly reached out to a bank in Silicon Valley for a $5 million loan as well as a $5 million line of credit after, it’s rumored, being turned down by a number of other banks.

Uh oh, spaghettios.

This comes only a couple of weeks after another kickstarted campaign for their new device Pebble Time reached it’s $500,000 goal in under 20 minutes (!!) and got a final pledge of $20,338,986, and, of course, only a short while after the release of what some view as their biggest competitor, the Apple Watch.

Pebble reportedly received about $18 million of the pledged amount and have actually gained momentum for their devices off the back of the highly publicized (yet more expensive) Apple Watch.

The company seems to be taking loans and seeking venture capital in order to stay afloat during a period of immense and necessary growth, but take into account that this is occurring at the same time as both the wearable boom and the entry of such a big competitor into the market like Apple, Pebble is one wearable company to keep an eye on.