YOKNEAM ILLIT, ISRAEL, May 12, 2023 (GLOBE NEWSWIRE) -- Wearable Devices Ltd. (Nasdaq: WLDS, WLDSW) (“Wearable Devices” or the “Company”), a technology growth company developing AI-powered touchless sensing wearables, today announced that the Company’s Mudra technology is now compatible with the product lines of two leading augmented reality (AR) glasses manufacturers: RealWear and Nreal.
RealWear targets the industrial sector with applications across energy and utilities, oil and gas, manufacturing, automotive, and more, and Nreal develops AR glasses targeting a variety of different applications in the consumer space. Over the past few weeks, Wearable Devices has conducted trials in its laboratories and successfully developed a new seamless user experience to control and operate both brands of glasses using intuitive hand gestures with the Mudra Band. RealWear glasses were tested using their built-in industrial application, and Nreal glasses were tested using a mirrored smartphone on the glass’s lenses.
"We are excited to showcase the synergies between Mudra Band and smart glasses from RealWear and Nreal,” commented Offir Remez, Executive Vice President of Business Development at Wearable Devices. “Soon, smart glasses users will enjoy a seamless, intuitive and more productive way to use their glasses. Our cutting-edge technology provides a natural way to control and operate connected devices which have no keyboard or mouse, and the compatibility with a wide range of AR glasses expands our market reach to additional segments in addition to the Apple ecosystem.”
Wearable Devices’ neural technology is already compatible with the interface of the Apple watch and additional Apple products. The new capabilities developed relating to AR glasses have the potential to increase synergies between Mudra Technology and AR glasses and develop further applications for both RealWear and Nreal products.
This achievement comes after the Company launched a user experience booth for its consumer product, the Mudra Band, in order to accelerate the beta testing phase by allowing a diverse range of users to experience the product.
About Wearable Devices Ltd.
Wearable Devices 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, the Mudra Inspire, 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 Metaverse, one of the most rapidly expanding landscapes in the tech industry. The Company’s common stock trades on the Nasdaq market under the symbol “WLDS”. For more information, please visit https://www.wearabledevices.co.il/.
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 potential advantages and benefits to smart glasses users from the compatibility of Mudra Band with smart glasses, the potential to increase synergies between Mudra Technology and AR glasses and the development of further applications for both RealWear and Nreal products . 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 ability to close the offering of the securities; 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 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
John Nesbett/Jennifer Belodeau
IMS Investor Relations
203.972.9200
wearabledevices@imsinvestorrelations.com
