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New AI Increasing 3D Model production up to 40%
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XReality Group
Overview
xReality Group Limited (ASX:XRG) specializes in virtual reality (VR), augmented reality (AR) and physical simulation for the enterprise, defense and consumer markets. The company’s primary focus is to provide physical and digital simulations for military and law enforcement applications. XR stands for extended reality and is a catch-all term for VR, AR, and mixed reality (MR).
The company was co-founded by two Australian military veterans to build physical skydiving simulators for both military training and the tourist market. The company has since expanded its simulation portfolio from indoor skydiving to include out-of-home virtual reality entertainment, defense XR training, and XR software development. xReality targets both the entertainment and the enterprise markets, which include defense, law enforcement, and other government agencies.
The company was listed on the ASX on January 18, 2013, as Indoor Skydive Australia Group (ASX:IDZ) and was rebranded to xReality Group on December 8, 2021.
It operates four major brands, and the group’s portfolio companies include XR production company Red Cartel, Operator XR, two Australian indoor skydiving facilities, and FREAK Virtual Reality venues.
The global total addressable market for the Operator XR business in the law enforcement and military markets is valued at about $3.37 billion in annual recurring revenue (ARR). Of this, the United States accounts for $1.3 billion, or 40 percent of the total, while the rest of the world is $2 billion. xReality has rightly been focusing on increasing its presence in the US given its relatively high share in the global context.
The global military market is significantly higher than the law enforcement market. Overall, the military market is valued at $2.68 billion, and the law enforcement market is valued at $682.6 million. Here again, the US is a significant player accounting for the largest share of the global pie in both military and law enforcement.
In the US, there are around 14 tier-1 law enforcement agencies (with 5,000 to 50,000 officers), 170 tier-2 agencies (with 500 to 5,000 officers), and 2,924 tier-3 agencies (with 40 to 500 officers). In total, the overall US law enforcement market is estimated at $170 million to $447 million in ARR.
Moreover, the US military market is almost three times the size of the law enforcement market, with an annual military budget of $842 billion. The addressable market is estimated at $499 million to $1.3 billion.
With annual revenues of about AU$10 million, xReality’s market share has a significant runway for growth. The company’s strategy to focus on its entry into the US market has seen some traction with first sales in the US in August 2023. The company has since expanded its US sales team, and the US sales pipeline is rapidly growing.
Company Highlights
- Listed on the ASX, xReality Group is an Australia-based company that specializes in building and operating virtual reality (VR), augmented reality (AR), and physical simulation for the enterprise, defense and consumer leisure markets.
- The company serves both entertainment and enterprise segments that include defense and law enforcement agencies.
- xReality operates four major brands across the end markets which include - iFly Downunder and iFly Gold Coast (both entertainment and enterprise); Freak Entertainment (retail market); Red Cartel (both entertainment and enterprise); and Operator XR (enterprise), the most important segment for the company focused on defense and law enforcement agencies.
- The total addressable market for the Operator XR segment is valued at US$3.37 billion with the US accounting for nearly 40 percent of the total market.
- The company is focusing on the US market and has already made its first law enforcement sale in the US in August 2023. The impact of this first US sale enhances the company’s reputation and credibility, serving as a testament to the quality of its products.
- xReality recently (Nov 2023) raised AU$2.9 million via a rights issue, of which nearly AU$2 million will be used to accelerate its US growth and the remainder will be used to reduce debt.
Key Business Units
Operator XR
Operator XR focuses on the enterprise segment, more specifically the defense and law enforcement sectors. Operator XR systems help military personnel and law enforcement officers train in operational tactics and procedures within a virtual reality environment. The VR system complements the existing training methods and helps its users to train more often, covering a broad range of scenarios centered on de-escalation tactics, use of force decision-making, and operational procedures.
The system was developed from the ground up, using the latest innovations in VR technology, with all IP owned by xReality. The company has invested a total of AU$2.5 million in the ongoing development of the Operator XR product. Operator XR offers several benefits: First, it provides a software platform that can be easily updated and configured. It offers significant cost savings and can simulate threats that cannot be replicated by other means. Second, it helps create the virtual environment at a fraction of the cost and time. Third, it creates an immersive environment allowing the use of live weapons and equipment leading to greater preparedness. Lastly, it can work offline enabling the training anytime and anywhere.
With offices in Sydney and Virginia, the segment focuses on two main markets – Australia and the US. The Australian operations were launched in 2021, followed by the US in 2023. With a go-to-market strategy focused on the ‘tier 3’ segment of the US law enforcement market, xReality made its first US law enforcement sale in August 2023. Tier 3 market includes nearly 3,000 police agencies with 40 to 500 officers. These agencies typically have much shorter sales cycles and faster procurement pathways than larger state and federal agencies.
The strategy seems to be working with xReality seeing a surge in their total sales pipeline in the US, which stands at AU$31 million with 60 individual qualified opportunities at various stages.
iFly Downunder and iFly Gold Coast
xReality operates indoor skydiving facilities under the brands – iFly Downunder (located in Sydney) and iFly Gold Coast (located in Queensland). During FY 2023, xReality invested significantly in enhancing both iFly Downunder and iFly Gold Coast, resulting in upgrades to mechanical cooling systems, IT hardware and building works. This segment serves both the entertainment and enterprise markets. The first indoor skydiving tunnel was launched in 2014. Since then, xReality has been serving about 200,000 visitors annually. iFly provides a steady, stable revenue cash flow, essential to fund the growth side of the business.
Freak Entertainment
Freak Entertainment is xReality’s virtual reality entertainment brand, established in 2019 to bring a market-leading VR experience to a retail footprint. The brand and IP are 100 percent owned by xReality, which includes cutting-edge technology and in-house-built games. It has served nearly 300,000 customers across its five locations in New South Wales and Queensland. Freak Entertainment venues offer various entertainment options such as VR arcade games, VR Escape Rooms, and VR Laser Tag among others.
Red Cartel
Red Cartel develops software products that cater to both the entertainment and enterprise markets. A leading expert in developing AR, VR, XR and enterprise software for the entertainment, oil and gas, healthcare, mining and government sectors, Red Cartel has more than 20 years of market track record. xReality acquired Red Cartel in August 2021 to deliver in-house development capability and support its other three businesses.
Management Team
John Diddams – Non-Executive Chairman
John Diddams holds a bachelor’s degree in commerce from the University of NSW, is a fellow of the Australian Society of CPAs, and is a fellow of the Australian Institute of Company Directors. He has more than 40 years of financial and management experience in Australia and overseas, with rich experience in the practical application of ASX listing rules, Australian corporations’ law, international accounting standards, and corporate governance principles. Diddams has a strong track record in driving business performance, mergers and acquisitions, due diligence and corporate governance.
Wayne Jones – Director and Chief Executive Officer
Wayne Jones has been the company's founder and CEO since November 2011. Before establishing xReality, he was a Commander with the Special Air Service Regiment (SASR) and was responsible for the development and performance of teams in complex and challenging environments. He holds formal qualifications in project management, business, security, and risk management, and financial management, and is a member of the Australian Institute of Company Directors. He has more than 25 years of experience in leading teams and delivering results. He is an experienced skydiver and maintains his involvement with the Australian Defense Force. He is also the president of the Australian Special Air Service Association (NSW Branch).
Danny Hogan – Non-Executive Director
Danny Hogan joined the Australian Regular Army in 1991 and, in 1997 was selected for further service within the Special Air Service Regiment. He has been recognized and awarded for his actions and leadership during his 21-year military career, including the Medal for Gallantry. He was selected for and completed a two-year military exchange in the US with two of the country’s elite Special Forces Commands. Hogan was a highly qualified senior dive instructor within the Special Air Service Regiment. He served as an executive director and the chief operations officer of xReality from the foundation of the company until November 2019, at which time he became a non-executive director. He is a member of the Australian Institute of Company Directors.
Kim Hopwood – Executive Director and Chief Technology and Products Officer
Kim Hopwood has more than 20 years of experience across technology, media, management, and operations. He started his career as a network engineer at Cisco, then co-founded digital agency Pusher in 2004. He has worked with xReality since 2012 as a supplier, and then as a freelance consultant before joining full-time in 2019. In his role as chief technology and products officer, he is responsible for all products along with the development of company strategy.
Mark Smethurst – Non-Executive Director
Mark Smethurst is an accomplished senior executive leader, with a highly successful track record commanding large and diverse teams both in Australia and overseas. He is a former Australian Military Brigadier General and has rich experience in dealing with Australian and international defense and supply chains. He was head of preparedness, and director of General Joint Force Analysis, responsible for developing futures concepts, experimentation, lessons, and preparedness.
Philip Copeland – Non-Executive Director
Philip Copeland is an experienced senior leader in the enterprise software-as-a-service (SaaS) sector and has a highly successful track record scaling enterprise SaaS businesses into global markets across highly regulated industries including government and financial services. He was the former CEO and founder of Avoka Software, a digital business enablement platform. He is the chairman of xReality’s International Growth Committee.
Stephen Tofler – Chief Financial Officer
Stephen Tofler was appointed CFO and company secretary in February 2019. He has more than 20 years of experience as a CFO in financial services, manufacturing and in public practice. He is formally qualified as a CPA, maintains a CPA Public Practice Certificate, and has a Bachelor of Business degree.
Nextech3D.ai's AI Search Engine Powered by Nvidia GPUs Accelerating It's Production of 3D Models
Nextech3D.ai (OTCQX:NEXCF)(CSE:NTAR)(FSE:EP2), a patented 2D-3D Generative AI-Powered 3D model supplier (Patent #11,948,248) for Amazon, Miele, P&G, Kohls, and other major e-commerce retailers is pleased to announce the success of its proprietary AI-Powered 3D model search engine launched in Q1, 2024. This innovative AI 3D model search engine uses AI powered by Nvidia's GPUs to speed-up and scale-up operations for the 3D modeling process. The AI search engine uses images to search Nextech's internal library of 3D models and meshes then recommends a close match to the given image. The Company is pleased to report that as a direct result of this AI search engine it is achieving as high as 40% increase in production thus increasing the number of 3D models the company can produce. The Company is continuing to develop patents around its proprietary technology while building and launching breakthrough AI for the mass scale of 3D models, which it sees as a significant growth market in 2024
As a leading 3D model supplier for e-commerce and AR, Nextech3D.ai recognizes the challenges faced by 3D artists and the time required in building intricate designs from scratch. To address these challenges the Company has built this innovative AI-powered search engine that instantly searches for similar model meshes within Nextech's vast 3D model library of 2000,000+ 3D models with similar colours, textures and shapes. This AI 3D model search engine was created in-house by the Company's team of AI engineers and scientists, showcasing the Company's technical strength and expertise.
Watch a demo of the AI-Powered 3D model search engine tool - click here
CEO of Nextech3D.ai Evan Gappelberg commented, "We are investing in our AI capabilities to stay competitive in the 3D model market and we see our AI search engine as just one of our investments that are paying off. Our AI-powered Search engine enabling our production to increase by as much as 40% represents a giant step forward in our Company's ability to scale production of 3D models. By combining our five years of technical expertise in the 3D modeling industry with our new AI capabilities, we're enabling our production capabilities to rapidly scale-up and move ahead in 2024. Our patented and patent pending AI along with new Nvidia GPU tech is allowing us to do things in terms of productivity that we just were not able to do previously, and I expect that to start showing up in the bottom line profitability of our 3D business in 2024."
Some other notable investments in AI that are in the news:
Meta has purchased 500,000 more AI GPUs for a total of 1 million AI GPUs, which is valued at $30 billion
OpenAI CEO Sam Altman plans to spend $50 billion a year on AGI development (artificial general intelligence) by using 720,000 NVIDIA H100 AI GPUs that cost a hefty $21.6 billion.
Microsoft is aiming for 1.8 million AI GPUs by the end of 2024, while OpenAI wants to have 10 million AI GPUs before the end of the year.
Key features of the Mesh Search Tool include:
Advanced AI Algorithms: Nextech3D.ai integrates state-of-the-art AI algorithms to enable precise and rapid mesh searches, ensuring 3D artists can find the matches they need in seconds.
Intuitive User Interface: The user-friendly interface offers a seamless experience built directly into the Company's platform, allowing 3D artists to search the vast 3D model library quickly and effortlessly.
Comprehensive Mesh Database: An extensive and continuously expanding database of hundreds of thousands of 3D parts and meshes. The mesh search tool covers a wide range of diverse products from various industries.
This new tool leverages artificial intelligence algorithms to enable 3D artists to effortlessly navigate and locate specific 3D meshes, streamlining workflows and saving valuable time while increasing productivity.
ARitize 3D
ARitize 3D is your one-stop-shop AR solution with automated 3D model creation at an unbeatable price. Our Artificial Intelligence (AI) will turn your existing 2D product images or CAD files into 4K 3D AI and Augmented Reality experiences. It's fast, it's easy and it will transform your ecommerce website.
ARitize 3D is the One-Stop-Shop 3D + AR solution for eCommerce that is:
Affordable - lowest cost provider
Scalable - fastest, seamless, high quality
Frictionless - requires low implementation effort
AI & ML powered - automated 3D model creation
End to End - from model creation to CMS & AR visualization
Brands are invited to Contact Us to let our team help you start selling using 3D models for your online store today.
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About Nextech3D.ai
Nextech3D.ai or the "Company," (OTCQX:NEXCF)(CSE:NTAR)(FSE:EP2), is a versatile augmented reality and AI technology company that utilizes its proprietary artificial intelligence (AI) to craft immersive 3D experiences at scale for E-COMMERCE. The Company's primary focus lies in creating high-quality 3D WebAR photorealistic models for Amazon and various other online retailers. Nextech3D.ai has adopted a unique approach to creating shareholder value beyond its operating business of creating 3D models.
The Company also develops or acquires disruptive AI-technologies, which are subsequently spun out to shareholders as standalone public companies. This spin-out strategy allows Nextech3D.ai to issue stock dividends to its shareholders while maintaining significant ownership in the public spin-out, without dilution to the parent company Nextech3D.ai.
Notably, Nextech3D.ai successfully spun out "ARway," (OTCQB:ARWYF)(CSE:ARWY)(FSE:E65 ) its spatial computing platform, as a standalone public company on October 26, 2022. The Company retains a 49% stake with 13 million shares in ARway Corp. while distributing 4 million shares to Nextech shareholders.
Similarly, Nextech3D.ai accomplished its second spin-out launching Toggle3D.ai, (OTCQB:TGGLF)(CSE:TGGL)(FSE:Q0C ) an AI-powered 3D design studio aimed at competing with Adobe. The Company retains a 44% stake with 13 million shares in Toggle3D.ai Corp.
To learn more, please follow us on Twitter, YouTube, Instagram, LinkedIn, and Facebook, or visit our website: https://www.Nextechar.com.
For further information, please contact:
Investor Relations Contact
Julia Viola
investor.relations@nextechar.com
Nextech3D.ai
Evan Gappelberg
CEO and Director
866-ARITIZE (274-8493)
Forward-looking Statements
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Certain information contained herein may constitute "forward-looking information" under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as, "will be" or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements regarding the completion of the transaction are subject to known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove to be accurate, as future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Nextech will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.
SOURCE: Nextech3D.ai
View the original press release on accesswire.com
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Nextech3D.ai Receives Large 3D AI Purchase Order from Blue Chip Enterprise Customer
- Nextech3D.ai Continues to Sign New & Renewal 3D Modeling Deals plus AR Visualization For Enterprise Ecommerce
- Company Has Expanded into AI CAD-3D Rendering to Capture Larger Market Share
Nextech3D.ai (OTCQX:NEXCF)(CSE:NTAR)(FSE:EP2), a patented 2D-3D Generative AI-Powered 3D model supplier (Patent #11,948,248) for Amazon, Miele, P&G, Kohls, and other major e-commerce retailers is pleased to announce that the Company has received an order for 1,000+ 3D AI models and over 4,000+ 3D AI digital photos in May with delivery set to begin in June with a contract value in the mid-six figures. This large enterprise order is a testament to the company's pioneering AI technologies and expertise in creating 3D models and now renderings of 3D models in 2K, 4K, and 8K for e-commerce enterprise customers across the globe
Nextech3D.ai CEO Evan Gappelberg commented, "This enterprise customer has recognized the significant ROI of 3D models in e-commerce and is now accelerating its purchasing of 3D models. Shopify has reported up to a 93% increase in CTR, a 250% increase in conversions, and a 40% reduction in returns by implementing 3D/AR models on their eCommerce websites. Nextech3D.ai is currently working directly with Amazon, the largest e-commerce marketplace, and some of the world's largest e-commerce retailers including Kohl's. We also offer "one-click integration'' with the largest eCommerce platforms including Shopify, BigCommerce, and WooCommerce, which have rolled out 3D/AR and set the standard for Web 3.0 in e-commerce.
He continues, "Today we are seeing more companies both big and small interested not just in 3D AI models but also in 3D AI digital renders which we now are selling alongside our 3D AI models, creating additional value out of the 3D model itself. 3D AI & AR produces immersive shopping experiences that customers now expect in e-commerce. With our end-to-end integrated solutions, white-glove service, ability to scale production, and large enterprise customers, Nextech3D.ai is emerging as a 3D AI e-commerce leader. These large contracts are critical revenue and cash flow drivers for the company."
Example of the company's new AI Rendering of a 3D Chair & Ottoman in 4K:
Nextech3D.ai Continues to Sign New and Renewal 3D Modeling Deals
The company believes that it can become profitable in 2024 by scaling revenue with 80% profit margins while operating expenses are going down due to its investment in its patented AI. The strategic shift to Hyderabad India aligns perfectly with Nextech3D.ai's commitment to delivering top-tier 3D modeling and augmented reality solutions while maintaining a keen eye on profitability and fiscal responsibility for its valued shareholders.
Why AI and 3D Modeling, and Why Now?
The e-commerce landscape is evolving rapidly, with consumers demanding more interactive and engaging shopping experiences. This is where AI and 3D modeling technology come into play, offering a dynamic, immersive, and personalized shopping journey. The shift from 2D to 3D modeling for e-commerce is a major multi-decade transformation that is being led by AI. This transformation is evident as major brands and companies are incorporating 3D models and AR shopping, including Amazon, Walmart, CB2, IKEA, Sephora, Target and more.
Amazon (AMZN - Worth $2 Trillion) Amazon is leading this shift, transitioning from traditional 2D images to 3D models for all their products, setting a new standard in online retail. Nextech3D.ai is proud to be a 3D model supplier for Amazon, already creating tens of thousands of 3D models per month.
According to Amazon Prep: Amazon Has Measured the Following 3D/AR Model Benefits:
- an 8X increase in customers who viewed a product in AR at Amazon, from 2018
- 2X improvement in purchase conversion observed on average in 2022 when AR Virtual Try-On (shoes and eyewear) or view in 3D is enabled on an Amazon Product Listing
- 94% of customers surveyed by Amazon said they would use Virtual Try-On again (2022 survey of over 2,000 Amazon customers)
- 9% improvement in sales observed on average when View in Your Room is enabled on an Amazon product listing.
Other Benefits of 3D:
- 3D content that is created can be used beyond the detail page.
- Save money on product photography by using 3D assets to render detailed page images.
- Lifestyle images or other brand marketing content can be quickly created without the need for a studio setup.
- Many 3D content creators can use 3D assets to create animations, videos, and interactive or animated infographics. Clients should talk to their content creators to learn more about capabilities.
The Power of 3D Models in E-Commerce
3D models in e-commerce enable customers to visualize products in high detail from every angle, significantly enhancing decision-making confidence. This shift leads to higher conversion rates, as customers are more likely to purchase when they can thoroughly explore a product. Moreover, 3D visualization reduces returns, as buyers have a clearer expectation of what they are purchasing, thus saving costs, and improving customer satisfaction. Additionally, interactive 3D models increase customer engagement, keeping them on your site longer, which directly correlates with increased sales.
Timely
As online shopping continues to grow, the demand for more immersive and interactive experiences is growing. Businesses adopting 3D models are setting new benchmarks for customer engagement and satisfaction.
Nextech3D.ai believes it stands at the forefront of this mega-trend, leading the shift from static 2D images to immersive 3D experiences. Its patented AI-powered 3D modeling technology creates photo-realistic 4K 3D models that cater to major e-commerce platforms like Amazon. With years of expertise and a portfolio of high-profile clients including Amazon, P&G, Kohls, Miele, and others - Nextech3D.ai is transforming online shopping into an interactive adventure.
ARitize3D is your one-stop-shop AR solution with automated 3D model creation at an unbeatable price. Our Artificial Intelligence (AI) will turn your existing 2D product images or CAD files into 4K 3D AI and Augmented Reality experiences. It's fast, it's easy and it will transform your e-commerce website.
ARitize3D is the One-Stop-Shop 3D + AR solution for e-commerce that is:
- Affordable - lowest cost provider
- Scalable - fastest, seamless, high quality
- Frictionless - requires low implementation effort.
- AI & ML powered - automated 3D model creation
- End to End - from model creation to CMS & AR visualization.
Brands are invited to Contact Us to let our team help you start selling using 3D models for your online store today.
Recent News
- Nextech3D.ai Achieves Milestone with 3D AI Modeling Profit Margins Hitting 80% in Q2 2024 Up From 30% in 2023
- Nextech3D.ai Reports Fiscal Year 2023 and Fourth Quarter 2023 Audited Financial Results
- Nextech3D.ai Joins GlassDollar Network, Expanding Corporate Reach
- Nextech3D.ai Reports 2023 Earnings Growth & Q4 Insights
- Nextech3D.ai Selects AWS as its Primary Cloud Provider to Drive Innovation in the 3D Modeling For Ecommerce Industry With Cutting Edge AI
- Nextech3D.ai Receives Notice From USPTO To Be Granted Patent for CAD 3D Model Part Assembly & Segmentation
Sign up for Investor News and Info - Click Here
For further information, please contact:
Investor Relations Contact
Julia Viola
investor.relations@nextechar.com
Nextech3D.ai
Evan Gappelberg
CEO and Director
866-ARITIZE (274-8493)
About Nextech3D.ai
Nextech3D.ai or the "Company," (OTCQX: NEXCF) (CSE: NTAR) (FSE: 1SS), is a versatile augmented reality and AI technology company that utilizes its proprietary artificial intelligence (AI) to craft immersive 3D experiences at scale for E-COMMERCE. The Company's primary focus lies in creating high-quality 3D WebAR photorealistic models for Amazon and various other online retailers with patented 2D-3D technology. Nextech3D.ai has adopted a unique approach to creating shareholder value beyond its operating business of creating 3D models.
The Company also develops or acquires disruptive AI-technologies, which are subsequently spun out to shareholders as standalone public companies. This spin-out strategy allows Nextech3D.ai to issue stock dividends to its shareholders while maintaining significant ownership in the public spin-out, without dilution to the parent company Nextech3D.ai.
Notably, Nextech3D.ai successfully spun out "ARway," (OTCQB: ARWYF | CSE: ARWY | FSE:E65 ) its spatial computing platform, as a standalone public company on October 26, 2022. The Company retains a 49% stake with 13 million shares in ARway Corp. while distributing 4 million shares to Nextech shareholders.
Similarly, Nextech3D.ai accomplished its second spin-out launching Toggle3D.ai, (OTCQB: TGGLF | CSE: TGGL | FSE: Q0C ) an AI-powered 3D design studio aimed at competing with Adobe. The Company retains a 44% stake with 13 million shares in Toggle3D.ai Corp.
Forward-looking Statements
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Certain information contained herein may constitute "forward-looking information" under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as, "will be" or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements regarding the completion of the transaction are subject to known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove to be accurate, as future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Nextech will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.
SOURCE:Nextech3D.ai
View the original press release on accesswire.com
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Aether Global Announces Loan Agreement
(TheNewswire)
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Vancouver, B.C. TheNewswire - May 3, 2024 Aether Global Innovations Corp. (CSE:AETH) (OTC:AETHF) (Frankfurt:4XA) (WKN#A2N8RH), a leader in drone management and automation, announces it has entered into a loan agreement (the "Loan Agreement") dated April 30, 2024 with an arm's length lender for the principal amount of $30,000.00 (the "Loan").
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ARway.ai The Augmented Reality Experience Platform Signs Multiple New Navigation Deals With Global Accounts Riyad Bank & A Museum in the Heart of Washington, D.C.
Demand For Augmented Reality Navigation is Accelerating
ARway.ai ("ARway" or the "Company") (CSE:ARWY)(OTCQB:ARWYF)(FSE:E65) is an AI powered Augmented Reality Experience platform with a disruptive no-code, no beacon spatial computing solution enabled by visual marker tracking with centimeter precision is pleased to announce two new deals with new partners
ImmersLabs - https://www.immerslabs.com/
Signed up as an ARway Developer to test AR maps across three floors of a museum in the heart of Washington, D.C.
The installation aims to implement immersive navigation throughout the museum while allowing interactions with educational content about the museum and its exhibits. Visitors will have the opportunity to see and learn about the architectural updates that the museum has added as well as interact directly with parts of the exhibits through AR.
Riyad Bank - https://www.riyadbank.com/
Signed up as an ARway Developer to prototype a navigation experience in new corporate campus complex in Riyadh, Saudi Arabia
Aiming to deploy across all buildings across in their property to assist employees navigate from parking lots to offices and other ameneties in their buildings
Anum Wagas, CPA, CGA, previously the Director of Finance for Toggle3D.ai has been appointed interim Chief Financial Officer. Anum brings over a decade of experience from multinational companies and government sectors, with a strong background in financial reporting under IFRS. She succeeds Andrew Chan, who is exploring new job opportunities in different industries. The Board expresses appreciation for his contributions and wishes him success.
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To learn more about ARway, please follow on Social Media: Twitter, YouTube, Instagram, LinkedIn, and Facebook, and visit our website: www.arway.ai
About ARway.ai
ARway.ai (CSE:ARWY)(OTCQB:ARWYF)(FSE:E65) is a spatial computing platform powered by artificial intelligence (AI) providing an array of augmented reality (AR) experiences for indoor spaces. ARway's breakthrough no-code no-beacon IPN allows for the easy creation of navigation, tours, information sharing, notifications, advertising and gamification. ARway works seamlessly as a cross platform solution on iOS/ Android. ARway's technology is optimized for both mobile devices and AR glasses: Apple's Vision Pro, Magic Leap and Microsoft's HoloLens. ARway has unlimited use cases for augmenting physical spaces, making it a valuable tool for creators, brands and companies in various industries. The complete ARway platform includes: the Web Creator Studio, the ARwayKit Software Development Kit (SDK) and a mobile app for iOs and Android.
Nextech 3D.ai
On October 26, 2022, ARway.ai. was spun-out from its parent Company, Nextech3D.ai (OTCQX:NEXCF)(CSE:NTAR)(FSE:1SS). Nextech retained a control ownership in ARway.ai. with 13 million shares, or a 50% stake. Nextech3D.ai is a Generative AI powered 3D modeling Company and leading provider of augmented reality ("AR") experience technologies and 3D model services. Nextech's AI-powered 3D modeling platform, "ARitize3D" has contracts with; AMZN, KSS, CB2, Genuine Parts & many others. To learn more about Nextech3D.ai, visit www.nextechar.com
For further information, please contact:
Investor Relations Contact
Julia Viola
investor.relations@arway.ai
ARway.ai
Evan Gappelberg
CEO and Director
866-ARITIZE (274-8493)
Forward-Looking Statements
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Certain information contained herein may constitute "forward-looking information" under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as, "will be" or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements regarding the completion of the transaction are subject to known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove to be accurate, as future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. ARway.ai will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.
SOURCE: Arway Corporation
View the original press release on accesswire.com
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Nextech3D.ai Achieves Milestone with 3D AI Modeling Profit Margins Hitting 80% in Q2 2024 Up From 30% in 2023
Nextech3D.ai (OTCQX:NEXCF)(CSE:NTAR)(FSE:EP2), a patented 2D-3D Generative AI-Powered 3D model supplier for Amazon, Miele, P&G, Kohls, Wesfarmers Group "Bunnings" (Australia's largest listed company) and other major e-commerce retailers is excited to announce a major milestone in its 3D modeling business for ecommerce by hitting 80% gross profit in Q2, 2024 which is up 166% from 30% in 2023. This milestone achievement is only possible through the company's investment in AI and its pivot to Hyderabad India in Q3, 2023
The company believes that it can become profitable in 2024 by scaling revenue with 80% profit margins while operating expenses are going down due to its investment in its patented AI. The strategic shift to Hyderabad India aligns perfectly with Nextech3D.ai's commitment to delivering top-tier 3D modeling and augmented reality solutions while maintaining a keen eye on profitability and fiscal responsibility for its valued shareholders.
Why AI and 3D Modeling, and Why Now?
The e-commerce landscape is evolving rapidly, with consumers demanding more interactive and engaging shopping experiences. This is where AI and 3D modeling technology come into play, offering a dynamic, immersive, and personalized shopping journey. The shift from 2D to 3D modeling for e-commerce is a major multi-decade transformation that is being led by AI. This transformation is evident as major brands and companies are incorporating 3D models and AR shopping, including Amazon, Walmart, CB2, IKEA, Sephora, Target and more.
Amazon (AMZN - Worth $2 Trillion) Amazon is leading this shift, transitioning from traditional 2D images to 3D models for all their products, setting a new standard in online retail. Nextech3D.ai is proud to be a 3D model supplier for Amazon, already creating tens of thousands of 3D models per month.
The Power of 3D Models in E-Commerce
3D models in e-commerce enable customers to visualize products in high detail from every angle, significantly enhancing decision-making confidence. This shift leads to higher conversion rates, as customers are more likely to purchase when they can thoroughly explore a product. Moreover, 3D visualization reduces returns, as buyers have a clearer expectation of what they are purchasing, thus saving costs and improving customer satisfaction. Additionally, interactive 3D models increase customer engagement, keeping them on your site longer, which directly correlates with increased sales.
Timely
As online shopping continues to grow, the demand for more immersive and interactive experiences is growing. Businesses adopting 3D models are setting new benchmarks for customer engagement and satisfaction.
Nextech3D.ai believes it stands at the forefront of this mega-trend, leading the shift from static 2D images to immersive 3D experiences. Its patented AI-powered 3D modeling technology creates photo-realistic 4K 3D models that cater to major e-commerce platforms like Amazon. With years of expertise and a portfolio of high-profile clients including Amazon, P&G, Kohls, Miele and others - Nextech3D.ai is transforming online shopping into an interactive adventure.
Management Changes:
Anum Wagas, CPA, CGA, previously the Director of Finance for Nextech3D.ai has been appointed interim Chief Financial Officer. Anum brings over a decade of experience from multinational companies and government sectors, with a strong background in financial reporting under IFRS. She succeeds Andrew Chan, who is taking a new job in different industries. The Board expresses appreciation for his contributions and wishes him success.
Recent News
Nextech3D.ai Announces Formation of AI Incubator and AI Acquisition & Development Division With Potential 2024 IPO Spin Out
Nextech3D.ai Establishes New Business Unit Led by Former META Executive, Targeting Jewelry Industry with GPT AI CAD-3D Models, Blockchain Technology, and NFTs
Nextech3D.ai Expands AI Tech Team and Doubles Office Space As Demand Increases For GPT AI Platform and 3D Model Production In Hyderabad, India
Nextech3D.ai Launches Next Era of GPT AI 3D Solutions Led by Former Microsoft Executive
Nextech3D.ai Lands $1.8 Million 3D Modeling Deal with NASDAQ 100 Technology Company
Nextech3D.ai Reports $5 Million in 2023 Revenue, Growth Up +56% Preliminary Unaudited Results
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About Nextech3D.ai
Nextech3D.ai or the "Company," (OTCQX:NEXCF)(CSE:NTAR)(FSE:EP2), is a versatile augmented reality and AI technology Company that utilizes its proprietary artificial intelligence (AI) to craft immersive 3D experiences at scale for E-COMMERCE. The Company's primary focus lies in creating high-quality 3D WebAR photorealistic models for Amazon and various other online retailers. Nextech3D.ai has adopted a unique approach to creating shareholder value beyond its operating business of creating 3D models.
The Company also develops or acquires disruptive AI-technologies, which are subsequently spun out to shareholders as standalone public companies. This spin-out strategy allows Nextech3D.ai to issue stock dividends to its shareholders while maintaining significant ownership in the public spin-out, without dilution to the parent Company Nextech3D.ai.
Notably, Nextech3D.ai successfully spun out "ARway," (OTCQB:ARWYF)(CSE:ARWY)(FSE:E65) its spatial computing platform, as a standalone public Company on October 26, 2022. The Company retains a 49% stake with 13 million shares in ARway Corp. while distributing 4 million shares to Nextech shareholders.
Similarly, Nextech3D.ai accomplished its second spin-out launching Toggle3D.ai, (OTCQB:TGGLF)(CSE:TGGL)(FSE:Q0C) an AI-powered 3D design studio aimed at competing with Adobe. The Company retains a 44% stake with 13 million shares in Toggle3D.ai Corp.
To learn more, please follow us on Twitter, YouTube, Instagram, LinkedIn, and Facebook, or visit our website: https://www.Nextechar.com.
For further information, please contact:
Investor Relations Contact
Julia Viola
investor.relations@nextechar.com
Evan Gappelberg
CEO and Director
866-ARITIZE (274-8493)
Forward-looking Statements
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Certain information contained herein may constitute "forward-looking information" under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as, "will be" or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements regarding the completion of the transaction are subject to known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove to be accurate, as future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Nextech will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.
SOURCE:Nextech3D.ai
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