Wearable Devices Adds Industry Thought-Leader Pankaj Kedia to Its Advisory Board as Executive Advisor

Mobile and Wearables Industry Executive from Qualcomm and Intel To Help Accelerate the Deployment of Company’s AI-Powered and Neural Input Based Innovations

YOKNEAM ILLIT, ISRAEL, May 15, 2023 (GLOBE NEWSWIRE) --  Wearable Devices Ltd. (Nasdaq: WLDS, WLDSW) (“Wearable Devices” or the “Company”), a technology growth company developing AI-powered touchless sensing wearables, today announced the appointment of Pankaj Kedia to its advisory board as an Executive Advisor. In this role, Mr. Kedia will help the company to accelerate the adoption of its technologies and grow its B2B and B2C product lines.

Wearable Devices is developing artificial intelligence (AI)-based neural interface technology, which has the potential to revolutionize how consumers transform their thoughts and intentions into digital actions in an intuitive manner. Our interactions with smart devices – from TVs to PCs, from tablets to smartphones, from smartwatches to AR/VR glasses – have continued to evolve from text input to touch and voice over the last two decades. We believe smart gestures are the next UX paradigm and have the potential to significantly enrichen how we interact with devices and content. With AI and machine learning (ML) algorithms at its core, Wearable Devices is well-positioned to bring truly personalized user experiences to consumers.

Mr. Kedia has played pivotal roles in incubating and growing a range of smart device categories and use cases over the last 25+ years. Most recently, at Qualcomm Inc., Mr. Kedia founded the wearables business and established Snapdragon Wear as the pre-eminent leader in the wearables segment. Previously, at Intel Corporation, Mr. Kedia held leadership positions helping the company launch laptop PCs, tablets, handhelds, and smartphones in the industry. Mr. Kedia’s knack for establishing new device categories, along with his current AI and ML focus, will provide a big boost to realizing Wearable Devices’ vision.

Mr. Kedia founded and currently serves as the Managing Partner of 2468 Ventures, an investment and advisory firm to accelerate the deployment of AI in products and technologies across businesses and consumers.

Asher Dahan, Chief Executive Officer of Wearable Devices, said, "We are thrilled to have Pankaj Kedia join our advisory board as an Executive Advisor. He is widely regarded as a thought leader in the mobile, IOT, wearables, and AI spaces. His proven expertise in strategy and business development will allow us to accelerate opportunities in next generation AI-related use cases, products, and technologies. We look forward to collaborating with Pankaj and believe that his support will play an integral role in establishing Wearable Devices as the leading player in the technology industry.”

Mr. Kedia stated, “I am delighted to join Asher Dahan and the Wearable Devices executive team in a senior advisory role. The company has made tremendous progress in innovating and inventing AI and neural-based interfaces and is well-positioned to bring new modes of gesture-based interactions to the breadth of smart devices around us. I look forward to helping the company accelerate the deployment of its innovations, establishing AI-based gestures as the de-facto standard in the industry across wearable, AR/VR, smartphones and other smart devices, and bringing moments of delight to consumers worldwide.”

About Wearable Devices Ltd.

Wearable Devices Ltd. (the “Company”) 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, the Mudra Inspire, 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 Metaverse, one of the most rapidly expanding landscapes in the tech industry. The Company’s common stock trades on the Nasdaq market under the symbol “WLDS”. For more information, please visit https://www.wearabledevices.co.il/.

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 are discussing our expectations about Mr. Kedia’s future contributions as an executive advisor, as well as the Company’s expectation to accelerate opportunities in next generation AI-related use cases, products, and technologies, and to make Wearable Devices the leading player in the technology industry. 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 the prospectus dated February 17, 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

John Nesbett/Jennifer Belodeau
IMS Investor Relations
203.972.9200
wearabledevices@imsinvestorrelations.com