There's a new crowdfunding champion in town.

The Ubuntu Edge, a smartphone from Canonical that's designed to take on Apple's iPhone 5 and the Samsung Galaxy S4, hit a record for crowdfunding, reaching $10.4 million on Friday. The investment, which has been made up by thousands of Indiegogo users, has beaten out the former crowdfunding champion the Pebble smartwatch, which was able to muster $10.2 million on Kickstarter.

The Ubuntu Edge has excited the open-source community. The handset, if launched, would dual-boot Android and Ubuntu mobile, and can be converted into a full PC with its support for Ubuntu Desktop. Canonical is promising 4GB of onboard RAM, 128GB of storage, and a high-res 4.5-inch display. The device will cost $695 unlocked and will work on LTE and GSM networks.

Despite reaching new heights in crowdfunding, Canonical has a long way to go to reach its goal. The company hopes to raise $32 million, but only has six days left. Canonical has no plans initially to launch the device publicly, and will only offer the handset to backers.

In order to get their hands on the Ubuntu Edge, backers will need to donate $695. There will be no cost to donors if the campaign is unsuccessful.

(Via The Next Web)