Wearable Devices (Nasdaq: WLDS), an Israeli start-up specializing in AI-powered touchless sensing wearables, is commencing today with the opening of trading on NASDAQ and generating significant trading volume.
This occurred after the company announced earlier it completed shipment of the second manufacturing batch of the Mudra Band for Apple Watch. This second shipment comes as the Company continues to fulfill preorders for this product.
Mudra Band- The Flagship Product of Wearable Devices
The Mudra Band is a revolutionary wearable device that empowers users to interact with technology effortlessly through hand gestures. As the demand for this innovative product continues to grow, Wearable Devices is committed to providing an accessible and informative platform for both existing and potential customers.
The Company plans to gradually ramp up production through the balance of 2023 and into 2024 to both fulfill preorder demand and support its go-to-market strategy for the holiday season and 2024. The Company now has thousands of Mudra Band units in advanced manufacturing and production phases.
As manufacturing scales, Wearable Devices is in active discussions with prospective retail distribution partners around the world. The Company’s goal is to enter partnerships with distributors across a variety of regions to maximize the presence and accessibility to potential customers.
Asher Dahan, Chief Executive Officer of Wearable Devices, commented, “We’re pleased to have completed shipment of the second manufacturing batch of the Mudra Band for Apple Watch to preorder customers. We’ve received positive initial feedback on the band, and our focus is on continuing to assure the highest production quality while we scale our manufacturing.
“With over 100 million Apple Watch devices sold to date, the addressable market for our product is immense and growing. We are actively engaging with multiple prospective retail distribution partners as part of our go-to-market strategy. We’re seeing encouraging interest in the product from consumers and potential retail partners alike, and look forward to completing our preorder fulfillment, further scaling manufacturing and executing a strategic product roll out to capitalize on the market opportunity in front of us,” Mr. Dahan concluded.
