Wearable Devices Strengthens its Presence in the Defense Sector with New Sale to a Global Defense Company
Wearable Devices (Nasdaq: WLDS) has announced a new sale of its Mudra Development Kit (MDK) to a global defense company. This follows a previous agreement with another defense sector leader, indicating growing interest in Wearable Devices' technology within the defense market. The MDK enables developers to integrate advanced gesture control functionalities into their systems using Wearable Devices' innovative Mudra technology.
The company's CEO, Asher Dahan, expressed excitement about deepening their engagement in the defense sector, highlighting the MDK's unparalleled capabilities that align with the high standards and innovative requirements of the defense industry. This sale represents a significant step in Wearable Devices' efforts to revolutionize user interfaces in critical applications.
Wearable Devices (Nasdaq: WLDS) ha annunciato una nuova vendita del suo Mudra Development Kit (MDK) a un'azienda globale del settore difesa. Questo segue un accordo precedente con un altro leader del settore difesa, indicando un crescente interesse per la tecnologia di Wearable Devices nel mercato della difesa. Il MDK consente agli sviluppatori di integrare funzionalità avanzate di controllo gestuale nei loro sistemi utilizzando l'innovativa tecnologia Mudra di Wearable Devices.
Il CEO dell'azienda, Asher Dahan, ha espresso entusiasmo per l'approfondimento del loro impegno nel settore della difesa, evidenziando le capacità senza pari del MDK che si allineano con gli elevati standard e i requisiti innovativi dell'industria della difesa. Questa vendita rappresenta un passo significativo negli sforzi di Wearable Devices per rivoluzionare le interfacce utente in applicazioni critiche.
Wearable Devices (Nasdaq: WLDS) ha anunciado una nueva venta de su Mudra Development Kit (MDK) a una compañía global de defensa. Esto sigue a un acuerdo anterior con otro líder del sector de defensa, lo que indica un creciente interés por la tecnología de Wearable Devices en el mercado de defensa. El MDK permite a los desarrolladores integrar funcionalidades avanzadas de control gestual en sus sistemas utilizando la innovadora tecnología Mudra de Wearable Devices.
El CEO de la empresa, Asher Dahan, expresó su entusiasmo por profundizar su compromiso en el sector de defensa, destacando las capacidades incomparables del MDK que se alinean con los altos estándares y los requisitos innovadores de la industria de defensa. Esta venta representa un paso significativo en los esfuerzos de Wearable Devices para revolucionar las interfaces de usuario en aplicaciones críticas.
웨어러블 디바이스(Nasdaq: WLDS)는 글로벌 방산 회사에 무드라 개발 키트(MDK)의 새로운 판매를 발표했습니다. 이는 방산 분야의 또 다른 선두 기업과의 이전 계약에 이어지는 것으로, 방산 시장 내 웨어러블 디바이스 기술에 대한 관심이 높아지고 있음을 나타냅니다. MDK는 개발자들이 웨어러블 디바이스의 혁신적인 무드라 기술을 사용하여 시스템에 고급 제스처 제어 기능을 통합할 수 있게 해줍니다.
회사의 CEO인 아셔 다한은 방산 부문에서의 참여를 더욱 심화하게 되어 기쁘다고 말하며, 방산 산업의 높은 기준과 혁신적인 요구 사항에 맞춘 MDK의 비할 데 없는 능력을 강조했습니다. 이번 판매는 웨어러블 디바이스가 중요한 애플리케이션에서 사용자 인터페이스를 혁신하는 노력을 위한 중요한 단계입니다.
Wearable Devices (Nasdaq: WLDS) a annoncé une nouvelle vente de son Mudra Development Kit (MDK) à une entreprise mondiale de défense. Cela fait suite à un accord précédent avec un autre leader du secteur de la défense, indiquant un intérêt croissant pour la technologie de Wearable Devices sur le marché de la défense. Le MDK permet aux développeurs d'intégrer des fonctionnalités avancées de contrôle gestuel dans leurs systèmes grâce à la technologie Mudra innovante de Wearable Devices.
Le PDG de l'entreprise, Asher Dahan, a exprimé son enthousiasme à approfondir leur engagement dans le secteur de la défense, mettant en avant les capacités inégalées du MDK qui correspondent aux normes élevées et aux exigences innovantes de l'industrie de la défense. Cette vente représente une étape significative dans les efforts de Wearable Devices pour révolutionner les interfaces utilisateur dans des applications critiques.
Wearable Devices (Nasdaq: WLDS) hat einen neuen Verkauf seines Mudra Development Kit (MDK) an ein globales Verteidigungsunternehmen angekündigt. Dies folgt auf eine vorherige Vereinbarung mit einem weiteren Marktführer im Verteidigungssektor, was auf ein wachsendes Interesse an der Technologie von Wearable Devices im Verteidigungsmarkt hinweist. Der MDK ermöglicht es Entwicklern, fortschrittliche Gestensteuerungsfunktionen in ihre Systeme zu integrieren, indem sie die innovative Mudra-Technologie von Wearable Devices nutzen.
Der CEO des Unternehmens, Asher Dahan, äußerte seine Begeisterung darüber, das Engagement im Verteidigungssektor zu vertiefen, und hob die unvergleichlichen Fähigkeiten des MDK hervor, die mit den hohen Standards und den innovativen Anforderungen der Verteidigungsindustrie übereinstimmen. Dieser Verkauf stellt einen bedeutenden Schritt in den Bemühungen von Wearable Devices dar, Benutzeroberflächen in kritischen Anwendungen zu revolutionieren.
- New sale of Mudra Development Kit to a global defense company
- Growing interest from the defense sector in Wearable Devices' technology
- Potential for expanding market presence in the defense industry
- None.
Insights
The purchase of Wearable Devices' Mudra Development Kit (MDK) by a global defense company is a significant milestone for the company's expansion in the defense sector. This follows a previous agreement with another defense leader, indicating a growing trend in the industry.
The MDK's gesture control capabilities could revolutionize military operations by enabling touchless interactions in high-stress environments. This technology could enhance situational awareness and operational efficiency for soldiers in the field. However, the defense sector's stringent requirements mean that Wearable Devices will need to demonstrate robust security measures and reliability in extreme conditions to fully capitalize on this opportunity.
While this sale is promising, investors should note that defense contracts often have long sales cycles and rigorous testing phases. The company's ability to scale production and meet defense-grade standards will be important for long-term success in this market.
This sale represents a strategic market expansion for Wearable Devices, potentially opening up a
However, investors should consider that the defense market is highly competitive and regulated. Wearable Devices will need to navigate complex procurement processes and potentially invest in obtaining necessary security clearances. The company's ability to secure follow-up orders and establish long-term partnerships will be critical indicators of success.
While this news is positive, it's important to note that financial details were not disclosed. The impact on the company's bottom line remains uncertain and investors should watch for future announcements regarding contract values and revenue projections.
This purchase marks growing interest in Wearable Devices in the defense market, following its previous agreement with another defense sector leader
YOKNEAM ILLIT, ISRAEL, Aug. 07, 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, previously announced that a global defense company has purchased its state-of-the-art Mudra Development Kit (“MDK”) to evaluate certain deep-level capabilities. This purchase, announced on July 24, 2024, marks additional opportunities for Wearable Devices in the defense market, following its previous agreement with another defense sector leader.
The MDK enables developers to integrate advanced gesture control functionalities into their systems, utilizing Wearable Devices' innovative Mudra technology. This powerful toolset will support the defense company's efforts to enhance user experience and operational efficiency through intuitive, touchless interaction.
Asher Dahan, Chief Executive Officer of Wearable Devices, commented: "We are excited to deepen our engagement in the defense sector. The MDK offers unparalleled capabilities that align perfectly with the high standards and innovative requirements of the defense industry. The interest coming from this specific sector signifies the growing recognition of our technology's potential to revolutionize user interfaces in critical applications."
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 benefits and advantages of the MDK and that interest coming from defense sector signifies the growing recognition of our technology's potential to revolutionize user interfaces in critical applications. 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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