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AIRPORT CITY, Israel, Dec. 1, 2020 /PRNewswire/ -- My Size, Inc. (the "Company" or "My Size") (NASDAQ: MYSZ) (TASE: MYSZ), the developer and creator of smartphone measurement solutions, today announced that it was granted a patent from the United States Patent & Trademark Office for its application, titled: "System for and a method of measuring a path length using a handheld electronic device." With this latest patent MySize has nine total issued/allowed patents and 10 patent applications pending worldwide.
The patent covers the methods and systems for measuring a body part of a user using a handheld electronic device, which is part of MySizeID's foundational technology. MySizeID's proprietary algorithms utilize a smartphone's sensors combined with anthropometric data to provide customers highly accurate sizing information for specific brands, based on the users' exact measurements.
"Receiving this patent in the US now represents another step forward for MySize's capabilities, as well as an unprecedented opportunity for brands amidst the shift to e-commerce," said Ronen Luzon, CEO, and Founder of MySize. "The cost of reverse logistics stands at over half a trillion dollars yearly and by further enabling customers to have confidence in their purchases, we're dramatically reducing costs while cementing customer loyalty."
About MySize Inc:
My Size, Inc. (TASE: MYSZ) (NASDAQ: MYSZ) has developed a unique measurement technology based on sophisticated algorithms and cutting-edge technology with broad applications, including the apparel, e-commerce, DIY, shipping, and parcel delivery industries. This proprietary measurement technology is driven by several algorithms that are able to calculate and record measurements in a variety of novel ways. To learn more about My Size, please visit our website: www.mysizeid.com. We routinely post information that may be important to investors in the Investor Relations section of our website. Follow us on Facebook, LinkedIn, Instagram and Twitter.
Please click here for a demonstration of how MySizeID provides a full sizing solution for the retail industry.
Register here for a one-month free trial of MySizeID solution for your online store. Please click here to download MySizeID for iOS.
Please click here to download MySizeID for Android.
Cautionary Statement Regarding Forward-Looking Statements
My Size, Inc. (the "Company" or "My Size") (NASDAQ: MYSZ) (TASE: MYSZ), the developer and creator of smartphone measurement solutions.
This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are identified by the use of the words "could," "believe," "anticipate," "intend," "estimate," "expect," "may," "continue," "predict," "potential," "project" and similar expressions that are intended to identify forward-looking statements. All forward-looking statements speak only as of the date of this press release. You should not place undue reliance on these forward-looking statements. Although we believe that our plans, objectives, expectations and intentions reflected in or suggested by the forward-looking statements are reasonable, we can give no assurance that these plans, objectives, expectations or intentions will be achieved. Forward-looking statements involve significant risks and uncertainties (some of which are beyond our control) and assumptions that could cause actual results to differ materially from historical experience and present expectations or projections. Actual results to differ materially from those in the forward-looking statements and the trading price for our common stock may fluctuate significantly. Forward-looking statements also are affected by the risk factors described in the Company's filings with the U.S. Securities and Exchange Commission. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.
U.S. Press Contact:
My Size Investor relations contact:
Or Kles, CFO
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SOURCE My Size Inc.