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Wearable Devices Ltd. (Nasdaq: WLDS) is at the forefront of innovation in the realm of AI-powered touchless sensing wearables, providing cutting-edge solutions for interacting with digital devices. Founded with the vision of making human-computer interactions as natural and intuitive as real-life experiences, the company has successfully transitioned from research and development to the commercialization of its groundbreaking technologies.
One of the company's standout products is the Mudra Band, a wrist-worn gesture control interface that allows users to interact with devices like Apple Watch, iPhone, Mac computer, Apple TV, and iPad through subtle hand and finger movements. This interface harnesses the power of non-invasive neural input technology, making it a pioneering brain-device interface. The Mudra Band now features an AI gesture mouse for Mac computers, offering effortless scrolling and navigation with a simple “reverse-pinch” gesture, enhancing user interaction within the Apple ecosystem.
Wearable Devices Ltd. is committed to developing AI-based neural input interfaces that cater to both B2C and B2B markets. Their products are designed for an array of digital devices including smart watches, smartphones, AR glasses, VR headsets, PCs, drones, robots, and more. The company's innovative approach leverages advanced AI and machine learning to deliver touchless control solutions that set new standards for interaction and convenience.
Recently, Wearable Devices Ltd. has made significant strides in expanding its market presence and technological capabilities:
- Collaborations and Partnerships: The company has partnered with Webidoo, a leading experiential retail store in Milan, to offer customers firsthand experiences with the Mudra Band.
- Patents and Intellectual Property: The China National Intellectual Property Administration granted Wearable Devices a patent for its gesture-controlled interface, broadening the protection of its innovative technology.
- Defense Applications: Successfully delivered a custom-made solution to a leading global defense company, marking the feasibility of integrating neural gesture technology into defense-grade applications.
- XR Integration: Completed the first phase of integration with Qualcomm's Snapdragon Spaces™ platform, enhancing XR environments with intuitive gesture-based interactions.
Financially, the company has secured a Standby Equity Purchase Agreement (SEPA) with YA II PN, Ltd., ensuring access to up to $10 million for continued growth and development. This financial stability allows Wearable Devices Ltd. to pursue its mission of revolutionizing digital interaction through advanced wearable technology.
The company's ordinary shares and warrants trade on the Nasdaq market under the symbols “WLDS” and “WLDSW”, respectively.
Wearable Devices announced a $10 million Standby Equity Purchase Agreement with YA II PN, , managed by Yorkville Advisors Global.
The agreement allows YA to purchase the company's ordinary shares over a three-year period at a 3% discount of the lowest daily volume-weighted average price during a three-day trading period. The company received an initial $2 million pre-paid advance and can request more up to $3 million.
Funds raised will be used for working capital and general corporate purposes. The company is not obligated to use the full $10 million, and YA cannot hold more than 4.99% of the company’s share capital at any time.
Wearable Devices has released a detailed report by its XR team on the Mudra Band's neural technology, focusing on its role in enhancing XR devices like Apple Vision Pro and Meta Quest 3. The report highlights the Mudra Band's precision in measuring fingertip pressure through SNC sensors, offering a new standard in gesture control. It emphasizes the shift from camera-based to neural input wristbands, providing intuitive and fine-grained control for smart glasses. The technology promises enhanced user experience, lower weight, and computational efficiency. Key advantages include improved accessibility and vast applications across various fields.
Wearable Devices (Nasdaq: WLDS), a tech growth company focused on AI-powered touchless sensing wearables, announced the successful delivery of a custom solution to a leading global defense company. This marks the completion of the third phase of their proof of concept (POC) project. The collaboration, aimed at integrating Wearable Devices' neural gesture technology into defense applications, confirms the potential of their Mudra technology for silent activation in defense-grade scenarios. The defense company plans to showcase this solution at an internal exhibition on operational technologies, highlighting its feasibility and innovation.
Wearable Devices (Nasdaq: WLDS, WLDSW), a tech company specializing in AI-powered touchless sensing wearables, has secured a patent in China. The patent, No. CN107589782, titled 'Method and Apparatus for a Gesture Controlled Interface for Wearable Devices,' enhances the company's intellectual property portfolio in the Eastern markets. This innovative interface, using a wrist-worn band, detects hand gestures with a focus on pressure-based interactions. Chief Scientist Guy Wagner stated that expanding the patent portfolio globally will help in collaborating with global partners and advancing their AI-enabled sensor technology.
Wearable Devices has been selected to present its gesture control technology at the Samsung Global Sourcing Fair in South Korea. This opportunity allows the company to showcase its innovative AI-powered touchless sensing wearables to Samsung's senior management and key stakeholders. The event aims to boost the company's visibility, explore collaborations, and integrate solutions with the global brand. Wearable Devices will introduce its seamless gesture technology that enables users to control digital devices through natural finger movements, showcasing the practical applications and consumer readiness of the technology.
Wearable Devices partners with Webidoo for the retail rollout of the Mudra Band, a touchless sensing device for Apple Watches. The collaboration includes featuring the product at Webidoo Store in Milano, Italy, and making it available online. This partnership highlights the innovative nature of the Mudra Band and Webidoo Store's commitment to delivering cutting-edge technology to consumers.
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