Wearable Devices Completes First Phase of Deployment Testing for a Leading Extended Reality Glasses OEM
20 Novembre 2023 - 2:20PM
Wearable Devices Ltd. (Nasdaq: WLDS, WLDSW) (“Wearable Devices” or
the “Company”), a technology growth company specializing in
artificial intelligence (“AI")-powered touchless sensing wearables,
today announced the successful completion of the first phase of a
deployment project with a leading extended reality (“XR”) smart
glasses original equipment manufacturer (the “OEM”).
In completing this first phase of testing, the Company has
satisfied certain criteria outlined in a memorandum of
understanding between Wearable Devices and the OEM for deployment
of Wearable Devices’ touchless technology into the OEM’s product
suite. The Company is currently collaborating with the OEM on
customizing the user experience and interface as it relates to
other solutions such as smartwatches and other wearable
devices.
Asher Dahan, Chief Executive Officer of Wearable Devices,
commented, “We’re pleased to have successfully completed our first
phase of deployment testing for our Mudra technology with the OEM.
This is the first step in criteria outlined in a memorandum of
understanding between Wearable Devices and the OEM, and we are now
turning our attention to the second phase of deployment testing,
with the goal of ultimately integrating our Mudra technology into
the OEM’s smart glasses at a much larger scale.”
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 future deployment
testing of our Mudra touchless technology and the integration of
such technology into the OEM’s smart glasses at a much larger
scale. 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 Securities
and Exchange Commission. 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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