Fortune 500 Consumer Electronics Corporation Has Purchased an Evaluation License for Wearable Devices' MDK
09 Juillet 2024 - 2:45PM
Wearable Devices Ltd. (the “Company” or “Wearable Devices”)
(Nasdaq: WLDS, WLDSW), a technology growth company specializing in
artificial intelligence (“AI")-powered touchless sensing wearables,
announced today that a Fortune 500 consumer electronics corporation
(“Customer”) has purchased a special license for its
state-of-the-art Mudra Development Kit (“MDK”) to evaluate certain
deep-level capabilities.
The MDK enables developers to create unique experiences with the
Mudra Band and Mudra Application Programming Interface. This
powerful toolset will enable the Customer’s development team to
seamlessly integrate advanced functionalities into their upcoming
products, enhancing user experience through innovative gesture
control technology.
The Customer, ranked among the Fortune 500 companies, is
renowned for its cutting-edge technology and high-quality consumer
electronics products, which include smartphones, televisions, home
appliances, and more. With a strong global presence and a
reputation for innovation, this company is ideally positioned to
leverage the capabilities of the MDK for developing next-generation
user interfaces.
Asher Dahan, Chief Executive Officer of Wearable Devices,
commented, "We are excited to see our Mudra technology gaining
recognition by a prominent player in the consumer electronics
market. This special license to evaluate possible deep-level
integration marks a significant step forward for us, as it
demonstrates the growing recognition of our technology's potential
to revolutionize user interactions, particularly in applications
such as extended reality (XR), televisions, 3D displays, and
laptops. We look forward to seeing the innovative applications and
products that will emerge from this collaboration."
The MDK is designed to provide developers with the tools needed
to implement sophisticated gesture control features in their
applications. By leveraging Wearable Devices' advanced neural input
technology, developers can create intuitive and responsive user
interfaces that enhance the overall user experience.
About Wearable Devices Ltd.
Wearable Devices Ltd. is a growth company developing AI-based
neural input interface technology for the B2C and B2B markets. The
Company’s flagship product, the Mudra Band for Apple Watch,
integrates innovative AI-based technology and algorithms into a
functional, stylish wristband that utilizes proprietary sensors to
identify subtle finger and wrist movements allowing the user to
“touchlessly” interact with connected devices. The Company also
markets a B2B product, which utilizes the same technology and
functions as the Mudra Band and is available to businesses on a
licensing basis. Wearable Devices Is committed to creating
disruptive, industry leading technology that leverages AI and
proprietary algorithms, software, and hardware to set the input
standard for the Extended Reality, one of the most rapidly
expanding landscapes in the tech industry. The Company’s ordinary
shares and warrants trade on the Nasdaq market under the symbol
“WLDS” and “WLDSW”, respectively.
Forward-Looking Statement Disclaimer
This press release contains “forward-looking statements” within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, that are intended to be covered by the “safe harbor”
created by those sections. Forward-looking statements, which are
based on certain assumptions and describe our future plans,
strategies and expectations, can generally be identified by the use
of forward-looking terms such as “believe,” “expect,” “may,”
“should,” “could,” “seek,” “intend,” “plan,” “goal,” “estimate,”
“anticipate” or other comparable terms. For example, we are using
forward-looking statements when we discuss the benefits and
advantages of the MDK, our technology's potential to revolutionize
user interactions and the potential applications and products that
will emerge from this collaboration. All statements other than
statements of historical facts included in this press release
regarding our strategies, prospects, financial condition,
operations, costs, plans and objectives are forward-looking
statements. Forward-looking statements are neither historical facts
nor assurances of future performance. Instead, they are based only
on our current beliefs, expectations and assumptions regarding the
future of our business, future plans and strategies, projections,
anticipated events and trends, the economy and other future
conditions. Because forward-looking statements relate to the
future, they are subject to inherent uncertainties, risks and
changes in circumstances that are difficult to predict and many of
which are outside of our control. Our actual results and financial
condition may differ materially from those indicated in the
forward-looking statements. Therefore, you should not rely on any
of these forward-looking statements. Important factors that could
cause our actual results and financial condition to differ
materially from those indicated in the forward-looking statements
include, among others, the following: our use of proceeds from the
offering; the trading of our ordinary shares or warrants and the
development of a liquid trading market; our ability to successfully
market our products and services; the acceptance of our products
and services by customers; our continued ability to pay operating
costs and ability to meet demand for our products and services; the
amount and nature of competition from other security and telecom
products and services; the effects of changes in the cybersecurity
and telecom markets; our ability to successfully develop new
products and services; our success establishing and maintaining
collaborative, strategic alliance agreements, licensing and
supplier arrangements; our ability to comply with applicable
regulations; and the other risks and uncertainties described in our
annual report on Form 20-F for the year ended December 31, 2023,
filed on March 15, 2024 and our other filings with the SEC. We
undertake no obligation to publicly update any forward-looking
statement, whether written or oral, that may be made from time to
time, whether as a result of new information, future developments
or otherwise.
Investor Relations Contact
Walter FrankIMS Investor
Relations203.972.9200wearabledevices@imsinvestorrelations.com
Wearable Devices (NASDAQ:WLDSW)
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