Wearable Devices Receives Purchase Order from a Leading Japanese Industrial Automation Company
November 03 2023 - 8:20AM
Wearable Devices Ltd. (the “Company” or “Wearable Devices”)
(Nasdaq: WLDS, WLDSW), a technology growth company specializing in
artificial intelligence (AI)-powered touchless sensing wearables,
today announced the receipt of a purchase order for its evaluation
kit samples and dedicated evaluation software from a prominent
Japanese industrial automation company. This automation company,
which is renowned for enhancing worldwide manufacturing
productivity and efficiency through its cutting-edge sensing and
control technology, is set to usher in a transformative phase for
robot control applications using Wearable Devices' pioneering
technology.
This purchase order is the result of Wearable Devices' intensive
market initiatives in the Asian region, with a specific emphasis on
the Japanese market. A pivotal factor driving this purchase order
was Wearable Devices' impactful participation at the XR FAIR
conference held in Tokyo in June 2023.
In the initial phase, the Japanese industrial automation
company’s development team is geared up to utilize evaluation kit
samples to showcase the versatility and advanced capabilities of
Wearable Devices' technology to its management.
"This purchase order represents a validation of our technology's
potential and underscores the global appeal and adaptability of our
products. We're excited about the possibilities this purchase order
from Japanese industrial automation company brings to the table,"
said Asher Dahan, Chief Executive Officer of Wearable Devices.
Wearable Devices remains committed to driving innovation and
bridging technological gaps across industries. With this purchase
order, the Company is poised to further cement its position as a
key player in the global wearable technology landscape.
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 DisclaimerThis 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 versatility, global
appeal, adaptability and advanced capabilities of our technology
and products; our marketing initiatives and future collaboration
with the Japanese industrial automation company and their expected
use of our technology for their applications. 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 with the U.S. Securities and Exchange Committee (the “SEC”),
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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