Wearable Devices Debuts Mudra Licensing, a New Program for Businesses
21 Julho 2023 - 9:00AM
Wearable Devices Ltd. (Nasdaq: WLDS, WLDSW) (“Wearable
Devices” or the “Company”), a technology growth company
specializing in AI-powered touchless sensing wearables, today
announced the launch of its licensing program for the B2B market.
The program provides for a royalty based license agreement where
original equipment manufacturers will have the right to customize a
reference design version of the Company’s award winning Mudra
gesture technology to meet the specific needs of their
business.
The Company's proprietary technology is at the forefront of
gesture recognition, using AI-based touchless sensing wearables to
control devices with hand gestures. With the launch of the Mudra
licensing program, Wearable Devices is positioned to significantly
expand its addressable market by enabling businesses to develop
their own co-branded touchless control products.
"Mudra licensing is a significant leap forward for the entire
industry," said Asher Dahan, Chief Executive Officer of Wearable
Devices Inc. "Our revolutionary technology is no longer just about
what we can create, but about what the entire industry can create
together. The Mudra licensing program is set to democratize this
crucial technology, allowing businesses of all sizes to take their
products to the next level with touchless controls. This is an
opportunity for businesses to innovate and build on the foundations
we've laid."
The Company invites businesses to tap into the power of Wearable
Devices' robust, AI-powered technology through the Mudra licensing
program. Licensees will benefit from a head start in the
competitive touchless control market, with the ability to innovate
and design their unique products, while also benefiting from the
support and guidance of Wearable Devices' expert team.
About Wearable Devices Ltd.
Wearable Devices Ltd. (the “Company”) 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 Extended Reality, 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”.
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 belief that the
launch of the Mudra licensing program will allow us to
significantly expand our addressable market and the potential
opportunities and benefits to users of the Mudra licensing program.
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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