Wearable Devices Sets New Standard in AR/VR Era with U.S Patent Application for Innovative Touchless Technology

Rhea-AI Summary

Wearable Devices Ltd. (Nasdaq: WLDS, WLDSW) has filed a U.S. patent application for a touchless pinch-to-zoom technology for AR and VR wearables. This innovative gesture-based control system aims to enhance user experience, interaction, accessibility, and market expansion in the AR/VR industry.

Positive

• Innovative touchless pinch-to-zoom technology filed for patent application
• Enhanced user experience and interaction in AR/VR environments
• Broader accessibility and market expansion in AR/VR technologies

Negative

• None.

The Company filed a U.S patent application for its new touchless pinch-to-zoom technology

YOKNEAM ILLIT, ISRAEL, Dec. 18, 2023 (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, has proudly announced its recent filing of a patent application with the U.S. Patent and Trademark Office for a groundbreaking touchless pinch-to-zoom technology for augmented reality (“AR”) and virtual reality (“VR”) wearables. This development marks a significant expansion and enrichment of the AR/VR era, setting new standards in digital interaction.

The innovative gesture-based control system allows users to interact with AR and VR environments through natural hand and wrist movements, enhancing the overall user experience. This touchless technology not only simplifies interaction but also makes it more intuitive, mirroring familiar actions used in everyday smartphone use.

Asher Dahan, Chief Executive Officer of Wearable Devices, states, "Our touchless control technology is not just an advancement; it's a transformation in the AR/VR industry. We're opening up new possibilities for users and developers alike, making these technologies more accessible, engaging, and versatile than ever before. This is just the beginning of our journey to enrich the digital era with innovative and user-friendly solutions."

Key enhancements of this technology include:

• Enhanced User Experience: Making AR and VR interactions more intuitive and enjoyable, reducing the learning curve for new users.
• Innovative Interaction: Pioneering a gesture-based control system that sets new interaction standards in the AR/VR industry.
• Broader Accessibility: Improving access to AR and VR technologies for a wider range of users, including those with physical limitations.
• Market Expansion: Contributing to a broader adoption of AR and VR technologies across various sectors, driving market growth.
• Setting Industry Trends: Establishing new trends and encouraging innovation within the AR/VR space.

Wearable Devices is at the forefront of this exciting new era, committed to continually pushing the boundaries of what's possible in the AR and VR domains.

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 the technology enhancements and potential benefits of our solutions. 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 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 Frank
IMS Investor Relations
203.972.9200
wearabledevices@imsinvestorrelations.com

FAQ

What is the name of the company that filed the patent application for touchless pinch-to-zoom technology for AR and VR wearables?

Wearable Devices Ltd. (Nasdaq: WLDS, WLDSW)

What is the technology that the company filed a patent application for?

The company filed a patent application for a touchless pinch-to-zoom technology for AR and VR wearables.

What are the key enhancements of this touchless technology?

The key enhancements include enhanced user experience, innovative interaction, broader accessibility, market expansion, and setting industry trends in the AR/VR space.