Wearable Devices Expands in North America, Bringing AI-Powered Wearables to Silicon Valley
07 Dicembre 2023 - 2:15PM
Wearable Devices Ltd. (the “Company” or “Wearable Devices”)
(Nasdaq: WLDS, WLDSW), a technology growth company specializing in
artificial intelligence (“AI”)-powered touchless sensing wearables,
has announced a strategic expansion in North America with the
establishment of a new U.S. office in Redwood City, California.
This significant move is set to amplify the Company's presence and
foster stronger relationships with partners in the rapidly growing
wearables market.
Located in the heart of Silicon Valley, this new office
positions Wearable Devices to deeply engage with the vibrant tech
community and respond swiftly to the dynamic needs of North
American customers. "Our expansion into Silicon Valley is a
game-changer," says Asher Dahan, Chief Executive Officer of
Wearable Devices. "It's more than just about geographical presence;
it's about being at the epicenter of technology and innovation.
This move aligns perfectly with our mission to revolutionize how
people interact with technology."
Shmuel Barel, Chief Marketing Officer of Wearable Devices and
newly appointed General Manager of Mudra Wearable Inc., a
subsidiary of Wearable Devices, adds, "We're opening doors to new
opportunities and collaborations. Our presence in North America
will allow us to better understand and cater to the unique demands
of this market."
The new office heralds a new phase of growth and innovation for
Wearable Devices, particularly for its Mudra Band, the
award-winning consumer product. This expansion is a testament to
the Company's commitment to setting new standards in customer
service and enhancing relations with business partners across the
continent.
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 DisclaimerThis 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 of opening
a U.S. office. 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, 2022, filed on March 22, 2023 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
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