Wearable Devices Revolutionizes Automotive Experience with European Automaker Partnership
12 Agosto 2024 - 3:00PM
Wearable Devices Ltd. (the “Company” or “Wearable Devices”)
(Nasdaq: WLDS, WLDSW), a technology growth company specializing in
artificial intelligence (“AI")-powered touchless sensing wearables,
announces its breakthrough entry into the automotive sector,
partnering with a leading European car manufacturer. The Company’s
innovative Mudra technology, featuring touchless control, is now
showcased in a demonstration car at the automaker's showroom,
allowing users to experience intuitive gesture-based interaction
with in-car systems.
The Company reports a successful
proof-of-concept implementation of its touchless control technology
in a demonstration car at a leading European automobile
manufacturer’s showroom. This collaboration, announced previously,
marks Wearable Devices' first foray into the automotive industry
and comes after the European manufacturer has purchased the Mudra
Development Kit (MDK) with hardware, including several bracelets
and professional services.
This collaboration highlights a new era in
driving, where drivers and passengers can manage functions
seamlessly without physical contact. The European automaker has
implemented Mudra technology to enhance vehicle safety and
convenience, aligning with the growing demand for advanced,
user-friendly interfaces in modern vehicles.
Asher Dahan, Chief Executive Officer of Wearable
Devices, stated: "Partnering with a renowned European automaker is
a significant step for us. As vehicles become more screen-reliant,
intuitive interaction methods like our Mudra technology are crucial
for ensuring drivers can focus on the road while passengers enjoy a
rich in-car entertainment experience."
Wearable Devices is poised to transform user
interfaces in the automotive industry, offering cutting-edge
solutions that prioritize safety and convenience.
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 our foray into
the automotive industry; the benefits and advantages of our
technology, including the potential of Mudra’s technology to
enhance vehicle safety and convenience and the growing demand for
advanced, user-friendly interfaces in modern vehicles. 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 Frank IMS Investor Relations 203.972.9200
wearabledevices@imsinvestorrelations.com
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