Wearable Devices Expands its Impact within the Industry’s XR Landscape by Joining the OpenXR Voting Committee
19 October 2023 - 11:25PM
Wearable Devices Ltd. (the “Company” or “Wearable Devices”)
(Nasdaq: WLDS, WLDSW), a technology growth company specializing in
AI-powered touchless sensing wearables, announced its new
collaboration with the Khronos® Group. As a newly inducted member
with voting rights in the OpenXR™ Working Group, Wearable Devices
is further committed to the evolution of the AR/VR industry.
OpenXR, a standard being developed and promoted by Khronos
Group, endeavors to streamline the complexities of AR/VR software
creations, ensuring a universal approach that bridges the chasm
between diverse hardware platforms. This easy-to-use framework
empowers AR/VR developers to craft holistic extended reality (“XR”)
solutions, eliminating the need for porting or rewriting
applications. Through the collaboration of global leading vendors,
anyone can expect to tap into an expansive array of XR
applications, amplifying the realm of possibilities.
With its inclusion in the OpenXR™ Working Group, Wearable
Devices now stands side by side with technology leaders like Apple,
Meta, Google, Microsoft, and more, all fervent supporters of the
OpenXR standard. Wearable Devices brings to this prestigious
roundtable its expertise in AI-powered touchless sensing
technology. Wearable Devices’ cutting-edge innovations are poised
to enrich the OpenXR ecosystem, bridging the gap between the
physical and virtual worlds in a way that's seamless and more
immersive for all. Additionally, this advancement is a significant
step forward in Wearable Devices’ mission to set the input standard
for XR.
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, 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 XR, 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 symbols “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 our innovations are
poised to enrich the OpenXR ecosystem and Wearable Devices’ mission
to set the input standard for XR. 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.
About Khronos Group:
The Khronos Group is an open, non-profit, member-driven
consortium of close to 200 industry-leading companies creating
advanced, royalty-free, interoperability standards for 3D graphics,
metaverse, augmented and virtual reality, parallel programming,
vision acceleration and machine learning. Khronos activities
include 3D Commerce™, ANARI™, glTF™, Kamaros™, NNEF™, OpenCL™,
OpenGL®, OpenGL® ES, OpenVG™, OpenVX™, OpenXR™, SPIR-V™, SPIR-V™,
SYCL™, Vulkan®, and WebGL™. Khronos members drive the development
and evolution of Khronos specifications and are able to accelerate
the delivery of cutting-edge platforms and applications through
early access to specification drafts and conformance tests.
Investor Relations Contact
Walter Frank IMS Investor Relations
203.972.9200wearabledevices@imsinvestorrelations.com
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