I recently came across a start-up watch company called Ziiiro. They have a very interesting design. This company got funded by Kickstarter users. For this particular model, time is read by looking at the rotating translucent color disks. Read more after the break>>>
Along the same lines, it would be appropriate to mention the wildly successful Pebble E-Paper "smart" watch which connects to your smartphone via Bluetooth and can relay information such as notifications and audio play controls back and forth. This design has raised a record-braking 4 million dollars in funding so far!