Wearable Devices Revolutionizes Automotive Experience with European Automaker Partnership
Wearable Devices (Nasdaq: WLDS) has made a significant breakthrough in the automotive sector by partnering with a leading European car manufacturer. The company's Mudra technology, which enables touchless control, is now featured in a demonstration car at the automaker's showroom. This collaboration marks Wearable Devices' first venture into the automotive industry and follows the European manufacturer's purchase of the Mudra Development Kit (MDK).
The implementation of Mudra technology aims to enhance vehicle safety and convenience, allowing drivers and passengers to manage in-car functions through intuitive gesture-based interactions. This aligns with the growing demand for advanced, user-friendly interfaces in modern vehicles. CEO Asher Dahan emphasized the importance of intuitive interaction methods as vehicles become more screen-reliant, focusing on driver safety and passenger entertainment.
Wearable Devices (Nasdaq: WLDS) ha fatto un significativo progresso nel settore automobilistico collaborando con un importante produttore di automobili europeo. La tecnologia Mudra, che consente il controllo senza contatto, è ora presentata in un'auto dimostrativa presso il showroom del costruttore. Questa collaborazione segna la prima incursione di Wearable Devices nell'industria automobilistica e segue l'acquisto da parte del produttore europeo del Mudra Development Kit (MDK).
L'implementazione della tecnologia Mudra mira a migliorare la sicurezza e la convenienza del veicolo, consentendo a conducenti e passeggeri di gestire le funzioni interne tramite interazioni intuitive basate su gesti. Ciò è in linea con la crescente domanda di interfacce avanzate e facili da usare nei veicoli moderni. Il CEO Asher Dahan ha sottolineato l'importanza dei metodi di interazione intuitivi man mano che i veicoli diventano sempre più dipendenti dallo schermo, concentrandosi sulla sicurezza dei conducenti e sull'intrattenimento dei passeggeri.
Wearable Devices (Nasdaq: WLDS) ha logrado un avance significativo en el sector automotriz al asociarse con un importante fabricante de automóviles europeo. La tecnología Mudra, que permite el control sin contacto, ahora se presenta en un coche de demostración en el showroom del fabricante. Esta colaboración marca la primera incursión de Wearable Devices en la industria automotriz y sigue la compra del Mudra Development Kit (MDK) por parte del fabricante europeo.
La implementación de la tecnología Mudra tiene como objetivo mejorar la seguridad y la comodidad del vehículo, permitiendo a conductores y pasajeros gestionar las funciones internas a través de interacciones basadas en gestos intuitivos. Esto se alinea con la creciente demanda de interfaces avanzadas y fáciles de usar en vehículos modernos. El CEO Asher Dahan enfatizó la importancia de los métodos de interacción intuitivos a medida que los vehículos dependen cada vez más de las pantallas, centrándose en la seguridad de los conductores y el entretenimiento de los pasajeros.
웨어러블 디바이스(Wearable Devices, Nasdaq: WLDS)는 유럽의 주요 자동차 제조업체와 협력하여 자동차 분야에서 중요한 돌파구를 마련했습니다. 무드라 기술(Mudra technology)는 비접촉 제어를 가능하게 하며, 현재 이 자동차 제조업체의 전시장에 시연 차량으로 전시되고 있습니다. 이번 협력은 웨어러블 디바이스의 자동차 산업으로의 첫 진출을 이루며, 유럽 제조업체가 무드라 개발 키트(Mudra Development Kit, MDK)를 구매한 후 이루어졌습니다.
무드라 기술의 구현은 차량의 안전성과 편의성을 향상시키는 것을 목표로 하며, 운전자와 승객이 직관적인 제스처 기반의 상호작용을 통해 차량 내 기능을 관리할 수 있도록 합니다. 이는 현대 차량에서 사용하기 쉽고 고급스러운 인터페이스에 대한 증가하는 수요와 일치합니다. CEO 아셔 다한(Asher Dahan)은 차량이 화면에 더욱 의존하게 됨에 따라 직관적인 상호작용 방법의 중요성을 강조하며, 운전자의 안전과 승객의 오락에 집중하고 있습니다.
Wearable Devices (Nasdaq: WLDS) a réalisé une avancée significative dans le secteur automobile en s'associant à un important constructeur automobile européen. La technologie Mudra, qui permet un contrôle sans contact, est désormais présentée dans une voiture de démonstration au showroom du constructeur. Cette collaboration marque la première incursion de Wearable Devices dans l'industrie automobile et fait suite à l'achat par le constructeur européen du Mudra Development Kit (MDK).
L'implémentation de la technologie Mudra vise à améliorer la sécurité et le confort des véhicules, permettant aux conducteurs et passagers de gérer les fonctions à bord grâce à des interactions intuitives basées sur des gestes. Cela s'inscrit dans la demande croissante pour des interfaces avancées et conviviales dans les véhicules modernes. Le PDG Asher Dahan a souligné l'importance des méthodes d'interaction intuitives alors que les véhicules deviennent de plus en plus dépendants des écrans, en se concentrant sur la sécurité des conducteurs et le divertissement des passagers.
Wearable Devices (Nasdaq: WLDS) hat einen bedeutenden Durchbruch im Automobilsektor erzielt, indem es mit einem führenden europäischen Automobilhersteller zusammengearbeitet hat. Die Mudra-Technologie, die eine berührungslose Steuerung ermöglicht, ist jetzt in einem Demowagen im Showroom des Fahrzeugherstellers zu sehen. Diese Zusammenarbeit markiert den ersten Schritt von Wearable Devices in die Automobilindustrie und folgt dem Kauf des Mudra Development Kit (MDK) durch den europäischen Hersteller.
Die Implementierung der Mudra-Technologie zielt darauf ab, die Sicherheit und den Komfort im Fahrzeug zu erhöhen, indem Fahrern und Passagieren ermöglicht wird, die Fahrzeugfunktionen durch intuitive gestenbasierte Interaktionen zu steuern. Dies entspricht der steigenden Nachfrage nach fortschrittlichen, benutzerfreundlichen Schnittstellen in modernen Fahrzeugen. CEO Asher Dahan betonte die Bedeutung intuitiver Interaktionsmethoden, da Fahrzeuge zunehmend von Bildschirmen abhängig werden, und konzentrierte sich auf die Sicherheit der Fahrer und die Unterhaltung der Passagiere.
- Partnership with a leading European car manufacturer
- Successful proof-of-concept implementation in a demonstration car
- First entry into the automotive industry
- Sale of Mudra Development Kit (MDK) to the European manufacturer
- None.
Insights
This partnership marks a significant milestone for Wearable Devices, potentially opening doors to the lucrative automotive market. The global automotive gesture recognition system market is projected to reach
However, investors should note that this is still a proof-of-concept stage. The company needs to demonstrate its ability to scale and integrate its technology into mass-produced vehicles. The automotive industry's long development cycles and stringent safety regulations could pose challenges. While promising, it's important to monitor how this translates into tangible revenue streams and market adoption in the coming quarters.
Wearable Devices' Mudra technology represents a leap forward in human-machine interaction for automobiles. By enabling touchless control, it addresses key concerns in modern vehicle design: driver distraction and hygiene. The system's ability to interpret subtle finger movements could provide a more intuitive and less distracting interface compared to touchscreens or voice commands.
However, the success of this technology will hinge on its reliability and user acceptance. Factors such as accuracy in various driving conditions, compatibility with different hand sizes and the learning curve for users will be critical. The company must also ensure seamless integration with existing automotive software ecosystems, which could be a significant technical challenge.
While this partnership is promising, investors should approach with cautious optimism. Wearable Devices, with a market cap of around
The automotive sector could provide a significant revenue stream, but it typically involves long sales cycles and substantial R&D investments. Wearable Devices must demonstrate its ability to secure additional partnerships and translate this proof-of-concept into commercial contracts. Investors should closely monitor upcoming quarterly reports for signs of revenue growth and improved cash position stemming from this and potential future automotive partnerships.
Wearable Devices' Technology to Be Showcased in a Demonstration Car at the European Manufacturer's Showroom
YOKNEAM ILLIT, ISRAEL, Aug. 12, 2024 (GLOBE NEWSWIRE) -- Wearable Devices Ltd. (the “Company” or “Wearable Devices”) (Nasdaq: WLDS, WLDSW), a technology growth company specializing in artificial intelligence (“AI")-powered touchless sensing wearables, announces its breakthrough entry into the automotive sector, partnering with a leading European car manufacturer. The Company’s innovative Mudra technology, featuring touchless control, is now showcased in a demonstration car at the automaker's showroom, allowing users to experience intuitive gesture-based interaction with in-car systems.
The Company reports a successful proof-of-concept implementation of its touchless control technology in a demonstration car at a leading European automobile manufacturer’s showroom. This collaboration, announced previously, marks Wearable Devices' first foray into the automotive industry and comes after the European manufacturer has purchased the Mudra Development Kit (MDK) with hardware, including several bracelets and professional services.
This collaboration highlights a new era in driving, where drivers and passengers can manage functions seamlessly without physical contact. The European automaker has implemented Mudra technology to enhance vehicle safety and convenience, aligning with the growing demand for advanced, user-friendly interfaces in modern vehicles.
Asher Dahan, Chief Executive Officer of Wearable Devices, stated: "Partnering with a renowned European automaker is a significant step for us. As vehicles become more screen-reliant, intuitive interaction methods like our Mudra technology are crucial for ensuring drivers can focus on the road while passengers enjoy a rich in-car entertainment experience."
Wearable Devices is poised to transform user interfaces in the automotive industry, offering cutting-edge solutions that prioritize safety and convenience.
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 our foray into the automotive industry; the benefits and advantages of our technology, including the potential of Mudra’s technology to enhance vehicle safety and convenience and the growing demand for advanced, user-friendly interfaces in modern vehicles. 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 Relations Contact
Walter Frank
IMS Investor Relations
203.972.9200
wearabledevices@imsinvestorrelations.com
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