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Nextech3D.ai Announces New 3D Model Deals Continuing to Drive Its Growth as Company Surpasses 37,700 3D Models Produced
Thursday, July 6, 2023Company Profile | Follow Company
Company also announces appointment of Nidhi Kumra, CA, CPA, to Board of Directors and as the Audit Committee Chair, replacing Jeff Dawley
Vancouver, BC, July 6, 2023--(T-Net)--Nextech3D.ai (formerly Nextech AR Solutions Corp) (OTCQX: NEXCF), a Generative AI-Powered 3D model supplier for Amazon, P&G, Kohls and other major e-commerce retailers, today announced a several new deals and renewals for its 3D modeling business, "ARitize3D" which is continuing to drive its growth.
The company also announced that it has surpassed over 37,700 3D models delivered to customers in various e-commerce industries, anticipating significant growth potential ahead where hundreds of millions of products go 3D as merchants are pivoting from 2D flat photos to 3D experiences in the e-commerce marketplace.
With Nextech3D.ai's breakthrough generative-AI technology, the company believes it has revolutionized the 3D modeling industry, and gained a major competitive edge solidifying its leadership position in the global 3D model market for e-commerce. Nextech3D.ai is making it possible to create photo-realistic 3D models as digital replicas of real-world products at scale for large enterprise customers.
Evan Gappelberg, CEO, Nextech3D.ai
"We are just getting rolling with our production for 3D models and announced that we have surpassed 37,775 3D models delivered to our customers," said Nextech3D.ai CEO Evan Gappelberg. "We continue to sign new deals, as we are redefining the shopping experience, bridging the gap between the physical and digital. Our advanced AI-powered 3D modeling technology enables e-commerce businesses to showcase their products in immersive 3D, providing valuable ROI to our customers with increased conversions and decreased returns."
Gappelberg continued, "The massive global ecommerce ecosystem is pivoting from 2D photos to 3D models, and we strongly believe that we are only at the beginning of a megatrend opportunity, as Amazon alone has 300,000,000 products that need to go 3D. In 2023, we are very focused on scaling our business and becoming the dominant 3D model supplier for the global e-commerce industry."
The company also reported that it has been ramping up 3D model production since 2021. From Q1 2021 to Q2 2023, the total number of models produced has been 37,775.
Nextech3D.ai also announced the appointment of Nidhi Kumra, CA, CPA, to its Board of Directors and as the Audit Committee Chair. Kumra is an accounting and finance professional with over 15 years of experience in audit, finance & business operations, most recently serving as CFO of entrepreneurial start up companies in CPG, technology and marketing sectors.
Jeff Dawley resigned as a member of the Board of Directors and as the Audit Committee Chair due to personal reasons, effective June 30, 2023.
About Nextech3D.ai
Nextech3D.ai (formerly Nextech AR Solutions Corp) (OTCQX: NEXCF; CSE: NTAR; FSE: EP2) is a diversified augmented reality, AI technology company that leverages proprietary artificial intelligence (AI) to create 3D experiences for the metaverse. Its main businesses are creating 3D WebAR photorealistic models for the Prime Ecommerce Marketplace as well as many other online retailers. The company develops or acquires what it believes are disruptive technologies and once commercialized, spins them out as stand-alone public Companies issuing a stock dividend to shareholders while retaining a significant ownership stake in the public spin-out.
On October 26, 2022 Nextech3D.ai spun out its spatial computing platform, "ARway" as a stand alone public Company. Nextech3D.ai retained a control ownership in ARway Corp. with 13 million shares, or a 50% stake, and distributed 4 million shares to Nextech AR Shareholders. ARway is currently listed on the Canadian Securities Exchange (CSE:ARWY), in USA on the OTCQB (OTC: ARWYF) and Internationally on the Frankfurt Stock Exchange (FSE: E65). ARway Corp. is disrupting the augmented reality wayfinding market with a no-code, no beacon spatial computing platform enabled by visual marker tracking.
On December 14, 2022 Nextech announced its second spinout of Toggle3D, an AI-powered 3D design studio to compete with Adobe. Toggle3D went public on June 14 2023, listed on the Canadian Securities Exchange (CSE:TGGL).
Forward-looking Statements This press release contains forward-looking information and may also contain statements that may constitute "forward-looking statements" within the meaning of applicable Canadian securities legislation (collectively, "forward-looking information"). Such forward-looking information is not representative of historical facts or information or current condition, but instead represent the beliefs and expectations regarding future events about the business and the industry and markets in which the Company operates, as well as plans or objectives of management, many of which, by their nature, are inherently uncertain. Generally, such forward-looking information can be identified by the use of terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". Forward-looking information contained herein may include but is not limited to, references to the potential Arrangement, including the anticipated timing and structure thereof. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, general market conditions, availability of financing, regulatory, court and shareholder approvals and the results of the Company's operations. Forward-looking information is not a guarantee of future performance and involve risks, uncertainties and assumptions which are difficult to predict and readers are cautioned that the Arrangement may not be completed on terms as presently proposed or at all. Accordingly, readers should not place undue reliance on forward-looking information, which are qualified in their entirety by this cautionary statement. The Company does not undertake any obligation to release publicly any revisions for updating any voluntary forward-looking information, except as required by applicable securities law. |
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Nextech3D.ai (formerly Nextech AR Solutions Corp)
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