Wearable Devices and RayNeo Collaborate to Lead the Industry of Neural Control for AR Glasses

The Convergence of Wearable Tech and AI

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In the ever-evolving landscape of technology, two formidable sectors are on an unstoppable trajectory of growth and innovation: the Wearable Technology and Artificial Intelligence (AI) Markets. 

By 2034, these markets are projected to not only reshape industries but also redefine our daily lives. 

The Wearable Tech Market is expected to soar to approximately $635.82 billion, while the AI Market is set to skyrocket to an astonishing $3.68 trillion. ⁽¹⁾⁽²⁾

Wearable Technology & AI:

According to an IDC report, the wearables market shipped 396 Mln units in 2020, including 91.4 million smartwatches and 67.7 Mln smart wristbands. ⁽³⁾

IDC predicts that by the end of 2024, over 631 Mln wearable devices will be shipped, with 156 Mln being smartwatches. ⁽³⁾

With an assumed average selling price of $160 per wrist wearable device, this translates to over $128B in opportunity growth between 2021 and 2024. ⁽³⁾

In 2024, the Wearable Technology Market is expected to exceed a valuation of over $176.6 billion.

This market encompasses an array of devices, including smartwatches, fitness trackers, and smart clothing. 

The global wearable technology market size was $157.04 billion in 2023, calculated at $178.72 billion in 2024 and is expected to reach around $635.82 billion by 2034, expanding at a CAGR of 13.5% from 2024 to 2034. ⁽¹⁾

Several factors are propelling this growth, including the pervasive adoption of the Internet of Things (IoT) and the increasing demand for health-monitoring devices. 

In particular, the management of chronic diseases, such as cardiovascular conditions and obesity, has been a driving force behind the demand for wearable devices.

In parallel, the global AI Market is experiencing unprecedented growth. 

With a valuation of $638.23 billion expected in 2024, this market is projected to reach a staggering $3.68 trillion, boasting an impressive CAGR of 19.1% from 2024 to 2034.⁽²⁾

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Factors driving this growth include the high demand for advanced hardware and software, favorable government policies, and initiatives that promote AI adoption.

These two burgeoning markets share common threads. 

Both are instrumental in transforming industries such as healthcare, automotive, finance, and more. 

Furthermore, they benefit from government initiatives aimed at fostering technological advancements. 

As these markets continue to evolve, one company to keep an eye on is Wearable Devices (Nasdaq: WLDS). 

Positioned at the forefront of innovation, Wearable Devices (Nasdaq: WLDS) is a growth company with a focus on developing AI-based neural input interface technology. 

Serving both B2C and B2B markets, companies like Wearable Devices (Nasdaq: WLDS) are poised to make groundbreaking contributions that will not only improve lives but also redefine our relationship with technology. 

Keep reading to see why Wearable Devices (Nasdaq: WLDS) needs to be at the top of your watchlist…

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Low float stocks refer to the securities that remain after a company’s stock has been issued to its controlling investors — meaning there are relatively few shares for the public to buy. ⁽⁹⁾

Market participants typically consider a float of 10-to-20 million shares as a low float. Some larger corporations have very high floats in the billions. ⁽⁹⁾

Companies with a low float frequently have a large portion of their equity held by controlling investors such as directors and employees, which leaves only a tiny percentage of the stock available for public trading. ⁽⁹⁾

That limited supply can cause dramatic price swings if demand changes quickly. ⁽⁹⁾

Wearable Devices (Nasdaq: WLDS) has less than 940K shares available in its float (as of 10/11/2024) according to Finviz.com. ⁽⁷⁾ A low-float stock can make significant moves due to volatility from so few shares being available⁽⁷⁾, so this could be one interesting situation to watch closely.

Wearable Devices (Nasdaq: WLDS) is also considered a nano-cap.  In general, nano-cap companies have market capitalizations of less than $50 million.⁽¹⁰⁾ Because nano-cap stocks are significantly smaller than mid cap or large cap companies, they have a higher potential to change valuation quickly.⁽¹¹⁾
 
As of 10/11/2024, Wearable Devices (Nasdaq: WLDS) has a market cap of approximately $4.3M according to FinViz.com.⁽⁷⁾

Overall, Wearable Devices (Nasdaq: WLDS) has sev eral positive catalysts, such as its potential for growth and low public float, making it an option for those looking to take advantage of swings with significant potential. 

Keep reading to see why Wearable Devices (Nasdaq: WLDS) needs to be at the top of your watchlist…

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Wearable Devices Ltd. (Nasdaq: WLDS) recently announced its financial results for the first half of 2024, showcasing significant revenue growth from the sales of its flagship Mudra Band for Apple Watch and various business-to-business (B2B) collaborations. ⁽²²⁾

The company's total revenue for the six months ended June 30, 2024, reached $394 thousand, marking a substantial increase from the $12 thousand in the same period of 2023. ⁽²²⁾

This growth highlights the company’s success in advancing its market position and scaling its operations.

First Half 2024 Financial Results and Company Highlights⁽²²⁾

Revenue and Growth:

The revenue surge was driven by the commercial sales of the Mudra Band, a business-to-consumer (B2C) focused product, and the company's ongoing B2B collaborations. The Mudra Band, designed for the Apple Watch, began shipping in late 2023, following a robust pre order phase, contributing significantly to the company's revenue in the first half of 2024.

Despite this revenue growth, Wearable Devices reported a net loss of $4.2 million, or $(0.21) per basic and diluted share, an increase from the $3.9 million net loss in the first half of 2023.

This increase was attributed to the company’s rising operational expenses, including investment in research and development (R&D), sales and marketing, and general administration as part of its strategy to scale up its business and expand its market presence.⁽²²⁾

Mudra Band: Advancing Wearable Technology ⁽²²⁾

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The Mudra Band for Apple Watch has continued to evolve, with the introduction of two major new features in 2024:

1. Touchless Gesture Control: The Mudra Band now enables users to control their Apple Watch through gestures, offering a hands-free experience for managing tasks.⁽²²⁾

2. Integration with ChatGPT: By integrating with ChatGPT, users can interact with AI using predefined gestures and voice commands, creating a new level of convenience and multitasking on the go.⁽²²⁾

These features have made the Mudra Band more appealing to tech-savvy consumers, expanding its usability and market potential.⁽²²⁾

In addition to these innovations, Wearable Devices Ltd. (Nasdaq: WLDS) has announced Mudra Link, an exciting new product aimed at Android and other operating systems.

Mudra Link is poised to be the first AI-powered neural interface wristband for Android, extending the company’s neural input technology beyond Apple devices.

The company is currently taking preorders for Mudra Link, with its official launch expected in the first quarter of 2025.

This product is set to significantly expand the company’s addressable market by targeting Android, Windows, and macOS users.⁽²²⁾

^{Expanding Device Compatibility}

Wearable Devices has extended its support to a wider range of Apple products, including the Apple Vision Pro, Mac, iPad, Apple TV, and iPhone, allowing users to leverage gesture control across multiple devices.

This expanded compatibility reinforces the company's commitment to integrating its technology across diverse platforms, enhancing the user experience for Apple enthusiasts.⁽²²⁾

Strategic Global B2B Collaborations

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Wearable Devices Ltd. (Nasdaq: WLDS) has also made significant strides in the B2B space through strategic collaborations with global technology leaders:

• Qualcomm Collaboration: The company has partnered with Qualcomm Technologies to integrate its Mudra neural technology with Qualcomm's Snapdragon Spaces XR developer platform. This collaboration aims to elevate extended reality (XR) experiences, with the first phase of integration now complete.

• Fortune 500 Partnership: A leading consumer electronics corporation has acquired a special license for the Mudra Development Kit (MDK) to explore deep-level capabilities for developing next-generation user interfaces.

• Lenovo Demonstrations: Wearable Devices successfully demonstrated its Mudra technology on Lenovo’s ThinkReality XR headset during the Augmented World Expo (AWE) 2024, showcasing the potential of its neural interface for immersive XR experiences.

• Reseller Agreements: The company signed reseller agreements to enhance its licensing program in South Korea and China, targeting new markets and further expanding its global presence.

• Defense Sector Collaboration: Wearable Devices continued its collaboration with a global defense company, delivering custom touchless technology solutions, strengthening its foothold in the defense sector.

Leadership’s Vision and Growth Trajectory⁽²²⁾

Commenting on the first-half performance, Asher Dahan, Chairman of the Board and Chief Executive Officer of Wearable Devices, expressed optimism about the company’s growth.

“In the first half of 2024, we increased the delivery of our flagship B2C product, the Mudra Band for Apple Watch. After an extended preorder period during which the Mudra Band generated strong customer interest, we began shipping the product towards the end of 2023 and are pleased to have reached this important milestone.”⁽²²⁾

Dahan also highlighted the company’s future plans, particularly the Mudra Link, which will extend the company’s neural input technology to a broader range of platforms.

“This has been a major initiative for our business, and the logical next step in our growth trajectory. With pre orders now open and an official launch planned for the first half of 2025, we expect the Mudra Link to significantly expand our addressable market.” ⁽²²⁾

Investing in the Future ⁽²²⁾

Wearable Devices Ltd. (Nasdaq: WLDS) has demonstrated its commitment to growth by continuing to invest in research, development, and marketing efforts. 
The company sees itself at the early stages of a rapidly expanding wearable technology industry and believes it is well-positioned to lead in the sector, thanks to its patented AI-based neural input technology.

Wearable Devices Ltd. (Nasdaq: WLDS) has made impressive strides in 2024, with its innovative products like the Mudra Band and the upcoming Mudra Link solidifying its reputation as a leader in wearable neural interface technology.

The company’s expanding B2B partnerships, collaborations with global tech giants, and increasing presence in sectors like defense position it for sustained growth in the coming years.

With strong leadership, groundbreaking technology, and a growing market, Wearable Devices Ltd. (Nasdaq: WLDS) is set to continue shaping the future of how humans interact with technology.

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Unlocking a Multi-Billion Dollar Opportunity

In the fast-paced world of wearable technology, Wearable Devices (Nasdaq: WLDS) is making remarkable strides that are reshaping the industry. According to an IDC report from September 2020, published by Bloomberg, the wearables market has witnessed unprecedented growth. In 2020, an astonishing 396 million units of wearable devices found their way to consumers.  ⁽³⁾

Among these, 91.4 million were smartwatches, and 67.7 million were smart wristbands. Projections by IDC indicate that this upward trajectory will persist, with an estimated 631.7 million units of wearable devices expected to be shipped to consumers by 2024.  ⁽³⁾

Out of this massive number, a significant 156.0 million are anticipated to be smartwatches. This growth is predicted to result in a remarkable compound annual growth rate (CAGR) of 14.30%.  ⁽³⁾ 

Capitalizing on a $128 Billion Opportunity

Considering an average selling price estimated at $160.00 per wrist wearable device, based on extensive research, it becomes evident that the wearables market represents an extraordinary opportunity for growth, amounting to over $128 billion between 2021 and 2024.  ⁽³⁾

Pioneering Technology: The Wearable Devices Approach

Wearable Devices (Nasdaq: WLDS) embarked on its journey in 2014 with a mission to revolutionize human-computer interaction.  ⁽³⁾

The company has been diligently developing a non-invasive neural input interface in the form of a wrist wearable band. 

This ingenious technology allows users to effortlessly control digital devices using subtle finger movements. 

The range of compatible devices is extensive, spanning from consumer electronics, smartwatches, smartphones, AR glasses, VR headsets, televisions, PCs, laptop computers, drones, robots, and more.  ⁽³⁾

A Versatile Strategy: Bridging the B2B and B2C Divide

Wearable Devices (Nasdaq: WLDS) sets itself apart by adopting a dynamic approach, engaging with both Business-to-Business (B2B) and Business-to-Consumer (B2C) customers.  ⁽³⁾

This versatility allows the company to bridge the gap between cutting-edge technology and practical applications across various industries.

Transition and Innovation: Shaping the Future  ⁽³⁾

At present, Wearable Devices (Nasdaq: WLDS) is at a pivotal juncture, transitioning from intensive research and development to the commercialization of its technology for B2B products. 

Simultaneously, the company is on the verge of unveiling its first B2C consumer product, the "Mudra Band."  ⁽³⁾

This remarkable accessory band is designed to enhance the functionality of the Apple Watch, introducing touchless operation and control. 

The company, headquartered in Israel, was founded in March 2014 by Asher Dahan, Guy Wagner, and Leeor Langer, experts in fields such as analog sensors, signal processing, deep learning, machine learning algorithms, software, and human-computer interaction.

AI-Based Innovation: Spearheading the Future  ⁽³⁾

At its core, Wearable Devices (Nasdaq: WLDS) is spearheading the development of AI-based neural input interface technology. 

The star of their product lineup is the Mudra Band for Apple Watch, seamlessly integrating innovative AI-based technology and proprietary sensors. 

This wristband empowers users to interact with a wide array of connected devices, enhancing user experiences by enabling touchless control through subtle finger and wrist movements. 

Moreover, the company extends its groundbreaking offerings to the B2B market, providing businesses with access to this revolutionary technology through licensing agreements.

Industry Disruption: AI and Proprietary Algorithms

Wearable Devices (Nasdaq: WLDS) is dedicated to disrupting industries through the strategic incorporation of AI and proprietary algorithms, both in software and hardware. 

Their ultimate goal is to establish the industry standard for input in the rapidly expanding realm of Extended Reality (XR), encompassing technologies like Virtual Reality (VR), Augmented Reality (AR), and Mixed Reality (MR). 

XR is undoubtedly one of the most promising and dynamic sectors in the technology industry.

A Visionary Future: Redefining Interaction  ⁽³⁾

With a vision to make hand gestures a universal input device for seamless interaction with technology, Wearable Devices (Nasdaq: WLDS) is poised to revolutionize the way individuals engage with digital devices. 

The Mudra Band, featuring an AI-based neural input interface, represents a giant leap forward in accessibility and immersion. 

With direct relationships with multinational technology companies, a vertically integrated platform, and a commitment to market expansion, Wearable Devices (Nasdaq: WLDS) is set to shape the future of wearable technology and redefine the boundaries of the Metaverse. 

Their strategic push-pull approach, combined with a team of experts, positions them for continued growth and success in the ever-evolving wearable technology market.

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Wearable Devices (Nasdaq: WLDS) has made waves in the augmented reality (AR) and virtual reality (VR) industry with its recent announcement of a groundbreaking touchless pinch-to-zoom technology. This innovative development, along with a patent application filed with the U.S. Patent and Trademark Office, signifies a significant leap forward in the AR/VR era, revolutionizing the way we interact with digital environments.

The company's touchless technology introduces a gesture-based control system that enables users to engage with AR and VR environments through natural hand and wrist movements. This leap in technology not only simplifies interaction but also makes it more intuitive, echoing the familiar actions we use in our daily smartphone interactions.

Asher Dahan, the Chief Executive Officer of Wearable Devices, expresses his enthusiasm for the project, stating, "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."

Here are some key enhancements and benefits of this revolutionary technology:

Enhanced User Experience: One of the most significant advantages of this technology is its potential to enhance the user experience in AR and VR environments. By making interactions more intuitive and enjoyable, it reduces the learning curve for newcomers to the technology. This will undoubtedly encourage wider adoption among consumers and businesses alike.

Innovative Interaction: Wearable Devices is pioneering a gesture-based control system that sets new industry standards in the AR/VR sector. This innovation sets the company apart as a leader in the field, positioning it to drive future advancements in digital interaction.

Broader Accessibility: The touchless technology developed by Wearable Devices aims to improve access to AR and VR technologies for a wider range of users. This includes individuals with physical limitations, who may find traditional input methods challenging. This commitment to inclusivity aligns with the company's goal of making AR and VR experiences available to everyone.

Market Expansion: As the demand for AR and VR technologies continues to grow across various sectors, the introduction of this touchless technology is poised to contribute to a broader adoption of these technologies. This will, in turn, drive market growth and create new opportunities for businesses and developers.

Setting Industry Trends: Wearable Devices is not just innovating; it is also establishing new trends within the AR/VR space. By encouraging others in the industry to explore similar touchless technologies and fostering an environment of innovation, the company is helping shape the future of digital interaction.

Wearable Devices is undoubtedly at the forefront of this exciting new era in AR and VR. With a commitment to pushing the boundaries of what's possible, the company is poised to transform the way we interact with digital environments. 

As this technology evolves and gains wider acceptance, we can expect to see a more immersive and accessible AR/VR experience for users across the globe. 

Wearable Devices (Nasdaq: WLDS) has set the stage for a future where the boundaries between the digital and physical worlds continue to blur, enriching our lives in ways we could only imagine.

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Wearable Devices Ltd. (Nasdaq: WLDS) has recently taken a significant step in expanding its intellectual property (IP) portfolio by filing a patent application in South Korea.

This application, which falls under the Patent Cooperation Treaty (PCT) national stage, is part of the company's broader IP strategy to safeguard its innovations in the rapidly growing Asian markets.

The patent, filed with the Korean Intellectual Property Office (KIPO), marks the company’s first application in a patent family titled "Gesture and Voice-controlled Interface Device."

This technology forms a key part of Wearable Devices' mission to pioneer neural interface technologies that enable new forms of interaction between humans and technology.

The recent filing in South Korea is a critical move for Wearable Devices Ltd., as it expands the company’s global patent coverage, especially in markets known for technological innovation.

South Korea, with its dynamic tech landscape, presents ample opportunities for collaboration with industry leaders and potential partnerships that can drive the development and application of Wearable Devices' groundbreaking technologies.

At the core of the filed patent is a neural interface technology that has far-reaching practical applications.

It can be used as a wearable scale, measuring the weight of objects held by a user, and as a wearable torque meter, allowing precise measurement of the torque applied when fastening rotating objects like screws.

These applications demonstrate the versatility and potential of the company's bio-potential sensor technology.

Guy Wagner, Chief Scientist Officer of Wearable Devices, highlighted the significance of this development:

“We are broadening our patent portfolio both in its depth and its reach. Expanding our patent reach to South Korea is essential not only for securing access to one of the world’s most technologically advanced and dynamic markets, but also for fostering collaborations with global industry leaders. Neural wrist interfaces have amazing practical applications that go beyond mere gesture control and can impact not only how we interact with technology, but also how we engage with everything around us. Neural scaling is just the first example.” ⁽²⁰⁾

Wearable Devices Ltd. continues to solidify its position as a leader in wearable technology by expanding its IP protection globally. The filing of this patent application in South Korea represents an important milestone in the company's strategy to maintain a competitive edge and explore future applications of wearable biopotential sensors, which have the potential to revolutionize various industries.

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In a groundbreaking move, Wearable Devices (Nasdaq: WLDS) has recently entered into a partnership with a renowned global defense company to develop a cutting-edge prototype tailored for defense-grade applications.  ⁽¹⁷⁾

This collaboration aims to harness Wearable Devices' neural gesture technology to meet the unique demands of the defense industry, particularly in scenarios where silent activation is paramount.  ⁽¹⁷⁾

Wearable Devices (Nasdaq: WLDS) has been at the forefront of innovation in the field of touchless control technology. Their neural gesture technology, known as Mudra, represents a significant leap forward in the realm of user interfaces. By capturing nerve signals, Mudra enables touchless control that is both natural and intuitive.  ⁽¹⁷⁾

This technology has found applications in various sectors, and now it is poised to make a significant impact on defense operations.  ⁽¹⁷⁾

This strategic alliance with a leading global defense company is a pivotal moment for Wearable Devices (Nasdaq: WLDS) , as it signifies the company's expansion into specialized industries.  ⁽¹⁷⁾

It brings together the expertise of two industry leaders to create a synergy that promises to redefine touchless controls in mission-critical defense scenarios.

Asher Dahan, the Chief Executive Officer of Wearable Devices, expressed his enthusiasm for this venture, saying, "We are incredibly excited to explore the use of our gesture technology in new leading-edge industries. The need for touchless, silent activation in defense contexts has been a long-standing challenge. Our collaboration with a leading global defense company will pioneer solutions that can be game-changing for the defense industry."  ⁽¹⁷⁾

At the heart of this collaboration is Wearable Devices (Nasdaq: WLDS)’s Mudra technology, which offers an advanced neural input interface. This technology captures nerve signals to provide users with the ability to control devices without physical contact.  ⁽¹⁷⁾

Its seamless integration with human gestures and movements enables a more intuitive way to interact with technology, making it ideal for various applications, including defense.

The partnership will involve intensive research and development efforts to tailor Mudra gesture technology to meet the rigorous and unique requirements of defense operations.  ⁽¹⁷⁾

By combining artificial intelligence, proprietary algorithms, and specialized defense needs, the agreement aims to create products that will set new benchmarks for efficiency, safety, and adaptability in the defense technology sector.

One of the key aspects of this collaboration is the joint development of a proof of concept that will focus on delivering field-tested, user-friendly solutions for defense personnel.  ⁽¹⁷⁾

This demonstrates the commitment of both parties to not only innovate but also ensure that the technology is practical and effective in real-world scenarios.

The significance of this partnership cannot be overstated. It signifies the evolution of gesture-based touchless control from consumer electronics to defense-grade applications.  ⁽¹⁷⁾

As the defense industry embraces the capabilities of Wearable Devices' technology, we can anticipate advancements that will enhance the efficiency and effectiveness of defense operations, ultimately contributing to the safety and security of our nations.  ⁽¹⁷⁾

Wearable Devices (Nasdaq: WLDS)’s partnership with a leading global defense company is poised to revolutionize the defense industry by introducing touchless technology tailored for silent activation, addressing long-standing challenges and ushering in a new era of innovation and efficiency in defense operations.  ⁽¹⁷⁾

The future holds great promise as these two industry leaders collaborate to redefine the possibilities of touchless controls in mission-critical environments.  ⁽¹⁷⁾

Immediately add Wearable Devices (Nasdaq: WLDS) to your watchlist.