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 an innovative collaboration with TCL-RayNeo™ (“RayNeo”),
a leader in augmented reality (“AR”) technology, aiming at bringing
mass-market neural interface wristband for AR glasses to life now.
Both parties will be showcasing how neural
interface wristband can be seamlessly integrated into AR devices,
enhancing user experience by enabling hands-free, gesture-based
interactions in augmented and mixed reality environments. This
collaboration, previously announced earlier this month, highlights
a groundbreaking leap towards more immersive, intuitive user
experiences with the objective of being available as soon as next
year. For comparison, Meta announced last month its entrance into
the gesture control space and presented its neural wristband as a
'Purposeful Product Prototype' for smart glasses. RayNeo is known
for its innovations in AR, developing cutting-edge AR glasses that
enhance immersive experiences by overlaying digital content in the
real world. By integrating RayNeo’s AR glasses with Wearable
Devices’ neural gesture control technology, users can experience a
truly hands-free interaction, elevating the immersive experience to
new heights.
“Our collaboration with RayNeo signals a
thrilling new chapter in neural gesture technology,” said Asher
Dahan, Chief Executive Officer of Wearable Devices. “Our
breakthrough Mudra Band and Mudra Link technology is redefining how
users interact in mixed reality, offering more natural and
instinctive control. Together with RayNeo, we’re creating immersive
experiences that feel almost magical, as if technology has become
an extension of oneself.”
“Collaborating with Wearable Devices represents
a significant leap forward in the future of AR technology,” said
Howie Li, Chief Executive Officer of RayNeo. “By combining RayNeo’s
advanced AR glasses with the cutting-edge neural interface
technology from Wearable Devices, we are committed to providing
innovative solutions that empower users and transform everyday
experiences. We believe this collaboration will lead to a new era
of smart, intuitive, and immersive wearable experiences.”
This collaboration highlights the potential for
future innovations in the extended reality (“XR”) market. The
combination of RayNeo’s advanced AR hardware and Wearable Devices’
neural input technology creates exciting possibilities for the next
generation of smart wearables, offering seamless and touchless
control across various applications. The details of the full terms
of this collaboration are subject to negotiation and execution of
definitive agreements.
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 symbols
“WLDS” and “WLDSW”, respectively.
About RayNeo™
RayNeo™, incubated by TCL Electronics (1070.HK),
is an industry leader in consumer-grade AR innovation, developing
some of the world's most revolutionary AR consumer hardware,
software and applications. RayNeo specializes in the research and
development of AR technologies with industry-leading optics,
display, algorithm and device manufacturing.
Established in 2021, RayNeo has launched the
world's first full-color Micro-LED optical waveguide AR glasses,
achieving several technology breakthroughs in the industry.
Alongside winning the "Best Connected Consumer Device" at MWC's
Global Mobile Awards (GLOMO) 2023 with NXTWEAR S, RayNeo also
developed the innovation consumer XR wearable glasses, RayNeo Air
2, featuring top-tier, cinematic audiovisual experiences with
ultimate comfort. For more information, please
visit: https://www.rayneo.com/
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 benefits and
advantages of our technology and solutions and those of RayNeo, our
expectation that this collaboration will lead to a new era of
smart, intuitive, and immersive wearable experiences and the
availability of the technology to users. 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. The Company may not enter into or
complete any definitive agreement for the proposed collaboration
or, even if it does, such collaboration may not achieve the
intended benefits. 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: the full terms of the contemplated
collaboration which are subject to negotiation and execution of
definitive agreements; 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 FrankIMS Investor
Relations203.972.9200wearabledevices@imsinvestorrelations.com
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