Pebble raised millions of dollars for its products on Kickstarter but struggled financially

Fitbit, the world's bestselling wearable tech-maker, has confirmed it is buying the inventions that power Pebble's smartwatches.

Pebble said it would try and refund backers of the Time 2, Core and Time Round gadgets by March 2017.

It also warned those who already owned its gear to expect less support.

"Our new mission will focus on bringing Pebble's unique wearables expertise to future Fitbit products.

"Money is pretty tight these days," the start-up's chief executive Eric Migicovsky said at the time.

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