BYND Cannasoft Subsidiary Zigi Carmel Initiatives & Investments LTD. filed U.S. Provisional Patent Application 63461609 on April 25, 2023 covering the mechanical structure, operation, and controlling aspects of a treatment device monitored by sensors and capable of stimulating the male sexual organs based on user preferences
ASHKELON, Israel and VANCOUVER, British Columbia, April 27, 2023 — BYND Cannasoft Enterprises Inc. (Nasdaq: BCAN) (CSE: BYND) (“BYND Cannasoft” or the “Company”) announced today that its Zigi Carmel Initiatives & Investments LTD. subsidiary filed U.S. Provisional Patent Application 63461609 on April 25, 2023, covering the mechanical structure, operation, and controlling aspects of a male treatment device for external use capable of gathering information and creating custom programs according to the collected data from the sensors and uploading the data to the cloud. This U.S. Provisional Patent Application marks BYND Cannasoft’s third potential candidate that could introduce new advanced haptic experiences to the fast-growing sexual wellness and sextech market.
The male treatment device utilizes artificial intelligence and machine learning algorithms to control its operational parameters based on the user’s physiological parameters. The user, or a partner, can control the device with a smartphone app. Data collected by the device’s sensors can be uploaded to the cloud where it will be stored to remember user preferences to create a custom experience for the user.
BYND Cannasoft announced on March 8, 2023 that its Zigi Carmel Initiatives & Investments LTD. subsidiary filed U.S. Provisional Patent Application number 63450503 covering the mechanical structure, operation, and controlling aspects of its smart female treatment device. On April 25, 2023, the company announced it received a positive opinion from the Patent Cooperation Treaty (PCT) for its A.I.-based Female Treatment Device. The Patent Cooperation Treaty (PCT) assists applicants in seeking patent protection internationally for their inventions and currently has 157 contracting states. BYND Cannasoft intends to file a similar application with the PCT for its male treatment device.
An April 2023 industry report by Market Research Future projects the Sexual Wellness Market size could grow to $115.92 billion by 2030 from $84.89 billion in 2022. The report cites the growing prevalence of Sexually Transmitted Diseases (STDs), HIV infection, increasing government initiatives, and NGOs promoting contraceptives as the key market drivers dominating the market growth. According to Forbes, the Sextech Market is expected to grow to $52.7 billion by 2026 from its current $30 billion as online sales continue to grow. BYND Cannasoft plans to develop this A.I.-based smart treatment device for men, its A.I.-based smart treatment device for women, and its EZ-G device.
Yftah Ben Yaackov, CEO and Director of BYND Cannasoft, said, “As the multi-billion-dollar sexual wellness and sextech market continues to grow, the industry is undergoing tremendous changes in consumer preferences as devices are increasingly connected online and enabled with interactive content. In this market, A.I., machine learning, and haptic technology have the potential to personalize the operational parameters of sexual wellness devices based on the physiological parameters of the user.” Mr. Ben Yaackov continued, “As a corporate lawyer, I recognize the value of licensing our potential A.I. and machine learning patent portfolio to customers in the sexual wellness market and producing innovative new products. The Board of BYND Cannasoft is committed to protecting the company’s I.P. covering this potentially lucrative market and bringing this innovative technology to market.”
About BYND Cannasoft Enterprises Inc.
BYND Cannasoft Enterprises is an Israeli-based integrated software and cannabis company. BYND Cannasoft owns and markets “Benefit CRM,” a proprietary customer relationship management (CRM) software product enabling small and medium‐sized businesses to optimize their day‐to‐day business activities such as sales management, personnel management, marketing, call center activities, and asset management. Building on our 20 years of experience in CRM software, BYND Cannasoft is developing an innovative new CRM platform to serve the needs of the medical cannabis industry by making it a more organized, accessible, and price-transparent market. The Cannabis CRM System will include a Job Management (BENEFIT) and a module system (CANNASOFT) for managing farms and greenhouses with varied crops. BYND Cannasoft owns the patent-pending intellectual property for the EZ-G device. This therapeutic device uses proprietary software to regulate the flow of low concentrations of CBD oil, hemp seed oil, and other natural oils into the soft tissues of the female reproductive system to potentially treat a wide variety of women’s health issues. The EZ-G device includes technological advancements as a sex toy with a more realistic experience and the prototype utilizes sensors to determine what enhances the users’ pleasure. The user can control the device through a Bluetooth app installed on a smartphone or other portable device. The data will be transmitted and received from the device to and from the secure cloud using artificial intelligence (AI). The data is combined with other antonymic user preferences to improve its operation by increasing sexual satisfaction.
For Further Information please refer to information available on the Company’s website: www.cannasoft-crm.com, the CSE’s website: www.thecse.com/en/listings/life-sciences/bynd-cannasoft-enterprises-inc and on SEDAR: www.sedar.com.
