Wearable Devices to Join OpenXR Face-to-Face Event

Rhea-AI Summary

Wearable Devices (Nasdaq: WLDS, WLDSW), an AI-powered touchless sensing wearables company, has announced its participation in the OpenXR Live meetup on September 12, 2024, in Seattle. Guy Wagner, the company's President and Chief Scientific Officer, will showcase the Mudra Band at the event organized by the Khronos® Group.

As a new member with voting privileges in the OpenXR™ Working Group, Wearable Devices joins tech giants like Meta, Google, and Microsoft in advancing AR/VR industry standards. OpenXR aims to simplify AR/VR software development by creating a unified standard for various hardware platforms, enabling developers to build XR applications without porting or rewriting for different devices.

Positive

• Wearable Devices joins OpenXR Working Group with voting privileges
• Company to showcase Mudra Band at OpenXR Live meetup
• Participation aligns Wearable Devices with industry leaders like Meta, Google, and Microsoft
• Potential for increased exposure and market opportunities in the AR/VR industry

Negative

• None.

Company to showcase the Mudra Band and drive progress in OpenXR Landscape with industry leaders

YOKNEAM ILLIT, ISRAEL, Sept. 05, 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, today announced that Guy Wagner, President and Chief Scientific Officer of Wearable Devices, will showcase the Mudra Band at the OpenXR Live (“OpenXR”) meetup in Seattle, Washington, USA on September 12, 2024. The meetup was organized by the Khronos® Group. As a newly inducted member with voting privileges in the OpenXR™ Working Group, Wearable Devices is set to champion the evolution of the augmented reality/virtual reality (“AR/VR”) industry.

OpenXR, spearheaded by the Khronos Group, is a groundbreaking effort aimed at simplifying AR/VR software development by creating a unified standard that connects various hardware platforms. This innovative framework allows developers to build extended reality (XR) applications without the need to port or rewrite them for different devices. By embracing OpenXR, vendors gain access to a vast ecosystem of XR applications, unlocking new possibilities across the industry.

As a member of the OpenXR™ Working Group, Wearable Devices has joined the ranks of tech leaders such as Meta, Google, and Microsoft, all of whom are dedicated advocates of the OpenXR initiative. Wearable Devices brings its expertise in AI-driven touchless sensing technology to this esteemed group, pushing the boundaries of user interaction in AR/VR environments. Their cutting-edge advancements are set to enhance the OpenXR ecosystem, seamlessly merging the physical and virtual worlds to create an even more immersive experience.

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 Capital 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 that we are set to champion the evolution of the AR/VR industry and the benefits and advantages of OpenXR. 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

FAQ

What is Wearable Devices (WLDS) showcasing at the OpenXR Live meetup?

Wearable Devices (WLDS) will be showcasing the Mudra Band at the OpenXR Live meetup in Seattle on September 12, 2024.

Who will represent Wearable Devices (WLDS) at the OpenXR event?

Guy Wagner, President and Chief Scientific Officer of Wearable Devices (WLDS), will represent the company at the OpenXR event.

What is the significance of Wearable Devices (WLDS) joining the OpenXR Working Group?

Joining the OpenXR Working Group with voting privileges allows Wearable Devices (WLDS) to contribute to AR/VR industry standards alongside major tech companies and potentially enhance its market position.

How does OpenXR benefit AR/VR software developers?

OpenXR simplifies AR/VR software development by providing a unified standard that allows developers to build XR applications without needing to port or rewrite them for different devices.