Business
MySize Receives Notice of Patent Allowance in Canada for AI & Algorithm-driven Measurement Solution
Company broadens IP assets which include approximately 20 patents issued and pendingPatents previously issued in major markets including the U.S., Europe, and
About this update from My Size, Inc.
[{"type":"text","content":"Company broadens IP assets which include approximately 20 patents issued and pendingPatents previously issued in major markets including the U.S., Europe, and JapanAIRPORT CITY, Israel, Feb. 7, 2023 /PRNewswire/ -- MySize, Inc. (NASDAQ: MYSZ) (TASE: MYSZ.TA) (\"MySize\" or the \"Company\"), an omnichannel e-commerce platform and provider of AI-driven measurement solutions to drive revenue growth and reduce costs for its business clients, announced today the Canadian Intellectual Property Office has issued a Notice Allowance for the Company's patent titled \"A system for and a method of measuring a path length using a handheld electronic device\".\nThis patent encompasses the methods and systems for measuring a body part of a user via a handheld electronic device. MySizeID's proprietary algorithms leverage the smartphone's built-in sensors and fuse the data produced with anthropometric data. As a result, users can enjoy highly accurate sizing information based on their exact measurements.\n\"Our patent estate becomes increasingly valuable as MySizeID and Naiz Fit are producing a growing body of efficiency metrics that prove its benefits to our apparel retail customers which now amounts to well over 1,000 companies including the biggest names in global fashion such as Levi's, Speedo, Superdry, Moschino and more,\" stated MySize Founder and CEO Ronen Luzon. \"Moreover, we are signing new customers at an accelerated pace as the economic efficiency metrics of our products combine with a greater awareness of environmental sustainability resulting from lower size-related returns.\" \nAbout MySize Inc.MySize, Inc. (Nasdaq: MYSZ) (TASE: MYSZ.TA) is an omnichannel e-commerce platform and provider of AI-driven measurement solutions including MySizeID and recently acquired Naiz Fit to drive revenue growth and reduce costs for its business clients. Orgad, its online retailer platform, has expertise in e-commerce, supply chain, and technology operating as a third-party seller on Amazon.com and other sites. MySize recently launched FirstLook Smart Mirror, a mirror-like touch display that provides in-store customers an enhanced shopping experience and contactless checkout. FirstLook Smart Mirror extends MySize's reach into physical stores and is expected to contribute to revenues through unit sales and recurring service fees.\nMySize has develo...