Västra Hamnen Corporate Finance has published an updated equity analysis on Crunchfish titled “Fishing for bigger deals”. The model has been reworked to include the Gesture Interaction order from OPPO and Crunchfish is formally approved for the RBI’s regulatory sandbox. The share price interval of 41.60 SEK – 66.20 SEK is unchanged.

As a service to the company’s shareholders and to increase transparency, Crunchfish has commissioned Västra Hamnen to conduct analysis of the company. The analysis includes an independent review of the company, markets, products, and competitors, as well as a financial scenario that serves as a basis for a discounted cash flow estimation of the company’s market cap.

In the analysis, Västra Hamnen writes: “Crunchfish reported a stronger net result than expected in Q3, largely because of a substantial upfront payment within the Gesture Interaction business area. The development in this segment has continuously showcased technological improvement and implementation in the AR/VR market. Within Digital Cash, Crunchfish released their new improved version Digital Cash 1.3 and received final approval for the Reserve bank of India’s regulatory sandbox which is expected to start in December 2022.”

The analysis states an unchanged share price interval according to the DCF model of 41.60 SEK – 66.20 SEK per share. The analysis is attached and available on Västra Hamnen’s and Crunchfish’s websites.

For more information, please contact:

Joachim Samuelsson, CEO of Crunchfish AB

+46 708 46 47 88

joachim.samuelsson@crunchfish.com 

This information was provided by the contact person above for publication on 21 November 2022 at 10:30 CET.

Västra Hamnen Corporate Finance AB is the Certified Adviser. Email: ca@vhcorp.se. Telephone +46 40 200 250.

About Crunchfish – crunchfish.com

Crunchfish is a deep tech company developing a Digital Cash platform for Banks, Payment Services and CBDC implementations and Gesture Interaction technology for AR/VR, automotive and digital interfaces. Crunchfish is listed on Nasdaq First North Growth Market since 2016, with headquarters in Malmö, Sweden and with representation in India.

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Crunchfish is now ready to release XR Skeleton 2.0 to customers and partners. This is the second generation of the flagship product – XR Skeleton – that target devices with a single camera. In this upgraded version the power consumption decreased due to more efficient use of different processing units, but most importantly support for tracking of two hands simultaneously has been added. Until now, two-hands tracking has only been available in the XR Skeleton Stereo product.

Crunchfish XR Skeleton 2.0 is ready. This software is an upgraded version of the XR Skeleton 1.1 and target use cases in primarily AR/VR, but the algorithms are also applicable in the automotive industry. With more wide-angle camera sensors available on the market, single sensor solutions are becoming more common. The benefits are lower cost, less power consumption and that one sensor is enough to cover a large space in front of the user that enables a wider interaction space for hand tracking. Interaction with two hands becomes natural.

Compared with having two camera sensors as in the stereo camera set-up, the accuracy when moving the hands in the depth direction is less precise with a single camera. Still, it is possible to enable a great user experience in many use cases also with a single camera. Especially with a wide-angle sensor since both hands can fit in the field of view of the camera when interacting with the device.

In the car environment, often just one sensor is used to track driver and passenger in the front seat. Tracking of two hands and sometimes even four hands is required which both are supported by the latest algorithms. In AR/VR and especially smart glasses, there is sometimes only one camera sensor between the lenses to save cost. Still, support for interaction with two hands is required.   

“After specific requests from many customers regarding support of two hands in the single camera hardware environment, we decided to extend our solution with that functionality. With a modified neural network and programming, I am now proud to be able to deliver this upgraded XR Skeleton product that is faster, consumes less power and support tracking of two hands”, says Jens-Henrik Lindskov, R&D Director at Crunchfish Gesture Interaction.

For more information, please contact:
Joakim Nydemark, CEO of Crunchfish Gesture Interaction AB
+46 706 35 16 09
Joakim.nydemark@crunchfish.com

The information was provided by the contact person above for publication on 14 November 2022 at 08:30 CET.

Västra Hamnen Corporate Finance AB is the Certified Adviser. Email: ca@vhcorp.se. Telephone +46 40 200 250.

About Crunchfish – crunchfish.com/gestures
Crunchfish is a deep tech company developing a Digital Cash platform for Banks, Payment Services and CBDC implementations and Gesture Interaction technology for AR/VR and automotive industry. Crunchfish is listed on Nasdaq First North Growth Market since 2016, with headquarters in Malmö, Sweden and with subsidiary in India.

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Crunchfish Gesture Interaction AB (“Crunchfish”) signs a commercial agreement with OPPO Mobile Telecommunications – one of the largest mobile phone manufacturers in the world – to provide their consumer devices with Crunchfish’s gesture control technology. The agreement is valid until end of 2023, with an upfront fee of US$500,000 including a commercial license and technical support.

OPPO has signed an agreement for the use of Crunchfish’s gesture control software for pose detection in their devices. The license agreement covers shipment of devices during 2022 and 2023 which means that many of OPPO’s consumer products will include Crunchfish’s software for gesture control in the coming year. The agreement is valid until end of December 2023.

OPPO strives to be a sustainable company that contributes to a better world and exists to elevate life through technological artistry. As one of the top 5 largest mobile phone manufacturers in the world and a strong actor in consumer electronics, OPPO is an important influencer on the market. With the new agreement in place, the collaboration between Crunchfish and OPPO continue for another term that enables an even stronger base for future OPPO products.

”We strongly believe the user experience and a smooth interaction is fundamental for the success of consumer products and intuitive gesture interaction will be crucial to ensure a great user experience. We are very happy with Crunchfish’s technology and look forward to continuing our collaboration”, says Max Fan, Business Director at OPPO Mobile Communications.

“I am very pleased about this new agreement that shows OPPO’s commitment and trust in Crunchfish’s technology. Our collaboration with OPPO enables many opportunities and their broad range of products including mobiles, tablets, smart-glasses etc., makes them a strategic partner to us”, says Joakim Nydemark, CEO at Crunchfish Gesture Interaction.

For more information, please contact:
Joakim Nydemark, CEO of Crunchfish Gesture Interaction AB
+46 706 35 16 09
Joakim.nydemark@crunchfish.com

This information is  Crunchfish AB obliged to publish in accordance with the EU Market Abuse Regulation. The information was provided by the contact person above for publication on 2 November 2022 at 14:00 CET.

Västra Hamnen Corporate Finance AB is the Certified Adviser. Email: ca@vhcorp.se. Telephone +46 40 200 250.

About Crunchfish – crunchfish.com/gestures
Crunchfish is a deep tech company developing a Digital Cash platform for Banks, Payment Services and CBDC implementations and Gesture Interaction technology for AR/VR, automotive and digital interfaces. Crunchfish is listed on Nasdaq First North Growth Market since 2016, with headquarters in Malmö, Sweden and with a subsidiary in India.

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Crunchfish is now ready to release a new detector software module for the gesture product – XR Skeleton Stereo. Detector and tracker are the two fundamental parts of hand-tracking technology and Crunchfish has with a new neural network – fully optimized for the dual-camera setting – released an upgraded XR Skeleton Stereo product including a detector with 30% higher detection rate.

Crunchfish is now ready to release an upgraded version of the XR Skeleton Stereo product that target use cases in AR/VR.  The development team has since the spring worked on a new detector algorithm that is fully optimized for a stereo camera configuration and detection of two hands simultaneously. The new detector algorithm is included in this upgrade of XR Skeleton Stereo and will increase the detection speed substantially as well as provide a 30% higher detection rate. The detection rate is a measure for how fast and reliable the software can detect a specific object in the image streams from the cameras.

The first two takers of the new release are Lenovo and Ximmerse who recently have signed agreements for commercial use of XR Skeleton Stereo in their coming AR/VR devices. The areas of use for XR Skeleton Stereo includes interaction with virtual objects in AR/VR as well as new ways of tracking hands at a distance and controlling various screen functions and menus (see video). By identifying all the moving parts and contours of the hand and then linking these points (coordinates) together into a skeletal structure, makes interaction with virtual objects possible as in the real world.

“With the latest research findings within deep learning and a great team effort, we have developed an extremely reliable and fast detector module that further increases the usability of XR Skeleton Stereo. With tracking of 42 points simultaneously (21 points on each hand) and high precision detection, Crunchfish has a software product that enables any AR/VR device with two-hand gesture interaction capabilities”, says Jens-Henrik Lindskov, R&D Director at Crunchfish Gesture Interaction.

For more information, please contact:
Joakim Nydemark, CEO of Crunchfish Gesture Interaction AB
+46 706 35 16 09
Joakim.nydemark@crunchfish.com

The information was provided by the contact person above for publication on 27 October 2022 at 08:30 CET.

Västra Hamnen Corporate Finance AB is the Certified Adviser. Email: ca@vhcorp.se. Telephone +46 40 200 250.

About Crunchfish – crunchfish.com/gestures
Crunchfish is a deep tech company developing a Digital Cash platform for Banks, Payment Services and CBDC implementations and Gesture Interaction technology for AR/VR, automotive and digital interfaces. Crunchfish is listed on Nasdaq First North Growth Market since 2016, with headquarters in Malmö, Sweden and with a subsidiary in India.

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Crunchfish’s commercial product release of XR Skeleton Stereo 1.0 is now ready for delivery to customers. As one of the first companies in the world, Crunchfish is very proud to deliver a product release of XR Skeleton Stereo – the company’s latest hand tracking product with leading performance and accuracy.

Crunchfish is now ready to deliver a two-hand tracking solution based on dual camera configurations for use in AR/VR devices. The first two customers to receive the solution are Lenovo and Ximmerse who recently signed agreements for commercial use of XR Skeleton Stereo in their coming AR/VR devices. The feedback on the product has been very positive.

“It is a huge team effort that makes it possible for us to now deliver a product release of XR Skeleton Stereo. As one of very few companies in the world, Crunchfish has a software product that enables any AR/VR device with two-hand gesture interaction capabilities”, says Joakim Nydemark, CEO of Crunchfish Gesture Interaction.

With tracking of 42 points simultaneously (21 points on each hand) and high precision measurement of the distance between camera sensors and each of the points on the hands, Crunchfish enables fantastic true to life interaction with virtual objects in three dimensions.

The areas of use for XR Skeleton Stereo includes interaction with virtual objects in AR/VR as well as new ways of tracking hands at a distance and controlling various screen functions and menus (see video). By identifying all the moving parts and contours of the hand and then linking these points (coordinates) together into a skeletal structure, interaction with objects as in the real world becomes possible.

Compared to the earlier announcement in March this year about the pre-release of XR Skeleton Stereo, the product is now ready and commercial product deliveries has started with very positive feedback from customers.

For more information, please contact:
Joakim Nydemark, CEO of Crunchfish Gesture Interaction AB
+46 706 35 16 09
Joakim.nydemark@crunchfish.com

The information was provided by the contact person above for publication on 13 September 2022 at 08:30 CET.

Västra Hamnen Corporate Finance AB is the Certified Adviser. Email: ca@vhcorp.se. Telephone +46 40 200 250.

About Crunchfish – crunchfish.com/gestures
Crunchfish is a deep tech company developing a Digital Cash platform for Banks, Payment Services and CBDC implementations and Gesture Interaction technology for AR/VR, automotive and digital interfaces. Crunchfish is listed on Nasdaq First North Growth Market since 2016, with headquarters in Malmö, Sweden and with a subsidiary in India.

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Crunchfish Gesture Interaction AB (“Crunchfish”) signs a commercial license agreement with Guangdong Virtual Reality Technology CO LTD (“Ximmerse”), to provide Ximmerse’s next generation AR-glasses with Crunchfish’s latest hand tracking technologies – XR Skeleton and XR Skeleton Stereo. Ximmerse will integrate Crunchfish’s software in all new models of AR-glasses to enable touchless interaction. It is a 3-years agreement, with a business model that includes an initial fee of $25,000US as well as a running royalty per produced unit that includes Crunchfish’s software.

The agreement gives Ximmerse the right to use Crunchfish’s technologies – XR Skeleton and XR Skeleton Stereo – in AR-glasses and other mixed reality products worldwide. Crunchfish XR Skeleton Stereo is the company’s latest and most advanced software to date and provides support for two-hand interaction and the use of two camera sensors simultaneously.

Next generation of Ximmerse’s AR-glasses target high production volumes and has a powerful hardware with two camera sensors (stereo) that enables high precision hand tracking. With Crunchfish’s skeleton hand tracking technology, dual-hand interaction is made possible with high precision and accuracy.

Ximmerse was founded in 2014 and is a trusted provider of mixed reality products since many years. The company’s product – RhinoX – has been a great success and next generation models with even more advanced functionality and features are under development and will create opportunities for customers around the world.

“Ximmerse has long been recognized for enabling massively popular AR experiences. To enable even more compelling use cases with our next generation augmented reality products, intuitive hand gesture interaction will be crucial for us to create extraordinary experiences. We are delighted to embrace Crunchfish’s XR Skeleton technology and look forward to a fruitful collaboration”, says Mike Bailey, Co-Founder of Ximmerse.

“XR Skeleton Stereo is our latest and most advanced technology, and we are very proud to get the opportunity to integrate it in the state-of-the-art AR products from Ximmerse. To be able to interact in augmented reality in an intuitive way is crucial for the success of a product and we are very excited to contribute to a great user experience for Ximmerse’s customers”, says Joakim Nydemark, CEO at Crunchfish Gesture Interaction.

For more information, please contact:
Joakim Nydemark, CEO of Crunchfish Gesture Interaction AB
+46 706 35 16 09
Joakim.nydemark@crunchfish.com

This information is information that Crunchfish AB is obliged to publish in accordance to the EU Market Abuse Regulation. The information was provided by the contact person above for publication on August 17, 2022 at 08:30CET.

Västra Hamnen Corporate Finance AB is the Certified Adviser. Email: ca@vhcorp.se. Telephone +46 40 200 250.

About Crunchfish – crunchfish.com/Gestures
Crunchfish is a deep tech company developing a Digital Cash platform for Banks, Payment Services and CBDC implementations and Gesture Interaction technology for AR/VR, automotive and digital interfaces. Crunchfish is listed on Nasdaq First North Growth Market since 2016, with headquarters in Malmö, Sweden and with representation in India.

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