Wearable Devices Ltd. (Nasdaq: WLDS, WLDSW) (“Wearable Devices” or
the “Company”), a technology growth company specializing in
artificial intelligence (“AI")-powered touchless sensing wearables,
is pleased to announce the signing of a reseller agreement with
WisePlus, a premier provider of device software solutions. This
collaboration aims to scale the Company’s licensing program reach
by enabling local, on-site support and customization for
enterprises in the markets of South Korea and China, tapping into
WisePlus' extensive network and expertise in these regions.
Under the terms of the agreement, WisePlus will
serve as the official regional reseller of Wearable Devices' Mudra
Technology, allowing WisePlus to demo, negotiate, customize and
resell the Company’s Mudra Developer Kit (“MDK”), which is a
comprehensive toolset designed to revolutionize the development and
integration on Wearable Devices’ neural input technology into
solutions, products and services across multiple industries and
verticals.
This partnership will leverage WisePlus'
presence and deep market knowledge in South Korea and China,
providing fast local access and support to enterprise customers in
these areas.
The MDK is designed to empower original
equipment manufacturers (“OEMs”) and developers with the ability to
create custom gestures and use existing signals to monitor and
analyze user behavior. This opens up new product and license
opportunities across various market segments, from extended reality
(“XR”) and smartwatches to Industry 4.0 and beyond.
“We are very excited to collaborate with
Wearable Devices and bring our support, technology and business
expertise to promote and create additional demand to the APAC
ecosystem,” said Bob Kim, Chief Executive Officer of WisePlus. “The
Mudra technology has the needed innovation and product fit to
revolutionize the XR-market massive adoption in the near future,”
added Mr. Kim.
Asher Dahan, Chief Executive Officer of Wearable
Devices, said: "We are delighted to announce our partnership with
WisePlus as our chosen added value reseller in the region. With a
proven track record of success in the APAC markets, WisePlus brings
invaluable insights and strategic guidance to our collaboration.
Their proficiency in providing tailored technology driven
solutions, seamless integration, and exceptional customer service
perfectly aligns with our vision and objectives. With a focus on
customization and integration, we are confident that this
partnership will empower us to deliver unparalleled
user-experiences”.
The MDK is available for value-added resellers ,
distributors, OEMs, and other partners now also through WisePlus.
It provides a comprehensive software development kit including
multiple Mudra wristband devices and advanced software tools for
programming a vast array of gestures into digital actions on both
Android and iOS platforms. The MDK package supports Bluetooth
communication, is HID-compatible, and employs deep learning
algorithms to translate discreet, intuitive gestures into commands
for a wide range of applications and devices.
For more information on the Mudra Developer Kit,
please visit Wearable Devices:
https://www.wearabledevices.co.il/mdk
About
WisePlus
WisePlus is a pioneering technology firm
specializing in advanced embedded system software and on-device AI
solutions. Its core expertise lies in developing high-performance,
intelligent software that operates seamlessly on a wide array of
devices. By integrating cutting-edge artificial intelligence
directly onto devices, WisePlus enables smarter, more efficient,
and autonomous operations across various applications, from IoT
devices to industrial machinery. WisePlus’ commitment is to
revolutionize how devices operate, offering enhanced
decision-making capabilities and improved user experiences without
the need for constant cloud connectivity. Led by Chief Executive
Officer Bob Kim, WisePlus is dedicated to pushing the boundaries of
what's possible within the digital domain, fostering innovation
that drives the future of technology.
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 the potential
benefits and opportunities from the Company’s collaboration with
Wise Plus, as well as the benefits, capabilities and advantages of
the Mudra Band. 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 Contact:
Walter FrankIMS Investor
Relations203.972.9200wearabledevices@imsinvestorrelations.com
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