Wearable Devices will join industry standard voting committee of OpenXR, which includes among others, prominent players such as Apple, Meta and Google

YOKNEAM ILLIT, ISRAEL, Oct. 19, 2023 (GLOBE NEWSWIRE) --  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
203.972.9200
wearabledevices@imsinvestorrelations.com