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This Faceless Watch Has Raised $400,000 on Indiegogo The Ritot team set out to raise $50,000 through crowdfunding and has earned it almost eight times over.

By Catherine Clifford

Opinions expressed by Entrepreneur contributors are their own.

The wristwatch has been endlessly reinvented, but this new high-tech take on the accessory ditches an essential component of most watches: the face.

The Ritot watch, which looks like a fitness band, projects the time from the side of the device onto the back of your hand. To activate the time display, a wearer touches the back of the watch or shakes his or her hand. For those having trouble picturing it, take a look at the video embedded below.

Related: From Android to Wearables to a New Auto Interface, What You Need to Know From Google's I/O Conference

Fancy a pink projection to coordinate with your new sneakers? Maybe the next day, perhaps green would better match your pants? When the watch is charging, the projection color can be changed.

San Jose, Calif.-based Ritot looked to raise $50,000 with its crowdfunding campaign on Indiegogo, but since launching on July 7, the campaign has raised almost eight times that. As of today, the Ritot campaign was a bit more than $10,000 shy of $400,000. The Indiegogo campaign ends on August 21.

Related: Apple Looking to Jump Head First Into Wearables with Multi-Sensor Smartwatch

Individuals who donate $120 to the campaign will receive one Ritot watch, which is expected to retail for $160. The watch comes in several different color and style designs.

The Ritot can be synced with your phone, too. Currently, it works with Apple and Windows platforms. A user can see text messages, Facebook messages, weather alerts, Twitter messages, emails and bevy of other smartphone notifications on the back of his or her hand.

Related: Meet Ringly, Where Wearble Tech Meets High-Fashion Bling

The Ritot team anticipates shipping projects to Indiegogo campaign contributors by the end of January into early February. That's a long time from where we are now in July. One can only wonder what Ritot's competition will be by then.

Catherine Clifford

Senior Entrepreneurship Writer at CNBC

Catherine Clifford is senior entrepreneurship writer at CNBC. She was formerly a senior writer at Entrepreneur.com, the small business reporter at CNNMoney and an assistant in the New York bureau for CNN. Clifford attended Columbia University where she earned a bachelor's degree. She lives in Brooklyn, N.Y. You can follow her on Twitter at @CatClifford.

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