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BYND Cannasoft Enterprises Inc. (Nasdaq: BCAN, CSE: BYND) is an Israeli-based company dedicated to developing innovative solutions in the CRM and medical cannabis sectors. The company is renowned for its proprietary Benefit CRM, which helps small and medium-sized businesses streamline their daily operations, including sales, personnel, marketing, call center activities, and asset management.
Building on its two decades of experience in CRM software, BYND Cannasoft is currently developing a groundbreaking Cannabis CRM Platform designed to enhance the medical cannabis industry's organization, accessibility, and transparency. This platform will feature a comprehensive Job Management (BENEFIT) and a modular system (CANNASOFT) for effectively managing farms and greenhouses.
One of the company's most notable achievements is the development of the EZ-G device, a therapeutic apparatus that employs proprietary software to regulate the flow of CBD oil, hemp seed oil, and other natural oils into female reproductive tissues. This AI-based device offers technological advancements as a sex toy, providing a more realistic experience. The EZ-G device includes sensors that measure pressure, temperature, conductivity, and heart rate, enabling a customized user experience controlled via a Bluetooth app on a smartphone.
The company has recently celebrated several milestones, including the successful completion of the laboratory testing phase for the EZ-G device and the filing of multiple patents to secure intellectual property rights. Additionally, BYND Cannasoft has significantly expanded its global presence, closing an underwritten public offering that raised approximately $2.6 million, and it has received a license from the Israeli Ministry of Health to engage in the medical cannabis market.
Under the leadership of CEO and Director Yftah Ben Yaackov, BYND Cannasoft is poised to make significant strides in women's health and medical cannabis research while driving sustainability and innovation. The company continues to form strategic partnerships and collaborations to advance its mission and deliver cutting-edge solutions to consumers worldwide.
For further information, please visit the company’s website at www.cannasoft-crm.com, the CSE’s website at www.thecse.com/en/listings/life-sciences/bynd-cannasoft-enterprises-inc, and on SEDAR at www.sedar.com.
BYND Cannasoft Enterprises Inc. (Nasdaq: BCAN) announced that its subsidiary, Zigi Carmel Initiatives & Investments LTD., filed U.S. Provisional Patent Application 63461609 on April 25, 2023. This patent covers a male treatment device that utilizes sensors to stimulate the male sexual organs based on user preferences, leveraging AI and machine learning. The device can upload data to the cloud for tailored user experiences. This marks the company's third patent application targeting the expanding sexual wellness market, projected to reach $115.92 billion by 2030. CEO Yftah Ben Yaackov highlighted the potential for AI technology in enhancing personal experiences in sexual wellness. The company also plans to file an international application for this device under the Patent Cooperation Treaty (PCT).
BYND Cannasoft Enterprises announced a positive opinion from the PCT regarding its AI-based Female Treatment Device, aimed at enhancing user satisfaction through advanced sensors and machine learning algorithms. The device is designed to personalize experiences related to sexual pleasure and medical needs. BYND Cannasoft plans to expedite the monetization of its patents as the AI market is projected to grow at a CAGR of 39.4%, reaching USD 422.37 billion by 2028. The device's functionality includes monitoring user responses, collecting data to adjust stimulation levels, and storing user preferences. The company has filed a US Provisional Patent Application and a full-scale PCT application to protect its technology. CEO Yftah Ben Yaackov expressed commitment to market this innovative device, anticipating significant impact within the sextech industry.
BYND Cannasoft Enterprises announced its plans to formulate a proprietary CBD oil for distribution outside of Israel, leveraging its recent patent application and a license from Israel's Medical Cannabis Unit. The company will market CBD-infused products for its AI-based and EZ-G devices, using a razor/razor blade model with low-margin durable products and high-margin consumables, aiming for approximately $15 million in sales by capturing 3% of Israel's $500 million medical cannabis market. In 2022, Israel imported over 33,000 kg of medical cannabis, marking its position as the world's largest importer.
BYND Cannasoft announced its entry into the $30 billion Sextech Industry with the filing of a U.S. Provisional Patent Application for a new AI-based female treatment device. The patent, filed by its subsidiary Zigi Carmel Initiatives & Investments, focuses on the device's mechanical structure and operation. Utilizing AI and machine learning, the device aims to enhance user experience by adjusting to physiological data and user preferences. CEO Yftah Ben Yaackov emphasized the importance of personalized technology in consumer products. The device represents a potential significant market opportunity as the Sextech market is projected to grow to $52.7 billion by 2026.
BACAN has filed a full-scale PCT application for its innovative EZ-G device, which utilizes AI technology to enhance sexual experiences by analyzing user data.
The prototype features sensors to monitor sexual conditions, allowing it to customize user interactions for optimal pleasure. The global sextech market is projected to reach $62.32 billion by 2030, indicating strong growth potential for the EZ-G device. CEO Yftah Ben Yaackov emphasized that the device aims to alleviate sexual and mental health issues while offering a revenue model through disposable CBD oil lubricant capsules, likened to a razor-and-blade strategy.
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