TORONTO, Jan. 09, 2024 (GLOBE NEWSWIRE) -- via IBN -- Nextech3D.AI (OTCQX: NEXCF) (CSE: NTAR) (FSE: 1SS), an AI-3D model supplier for major e-commerce retailers announces an uptick in sales with a series of six 2024 contracts, renewals from: CB2 - a division of Crate and Barrel, Artika, renowned for its avant-garde lighting solutions, Raptor Tactical, a designer and manufacturer of modern tactical equipment for Military, Police and other Law enforcement units, William Wood Mirrors, EOD Gear supplies, providing Tactical Gear to EOD Techs and Commands, SWAT, and City Grounds, and sees other growing sales opportunities in its 3D modeling pipeline. Nextech3D.ai anticipates continued momentum in 3D modeling demand to reinforce its position as a leader in the development and deployment of AI for in the 3D modeling industry for e-commerce. These contracts reflect a diverse range of industries, indicating the broad applicability and demand for Nextech3D.AI's services. 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.
CEO Evan Gappelberg commented, “As we start the new year, I am very optimistic about the trajectory of Nextech3D.ai. When we look at the diverse range of contracts, renewals, and the enthusiastic interest we're receiving it reaffirms our conviction as AI/AR and 3D industry leaders. I’m especially pleased with our AI engineers who’ve created value for our business, which is evident by the recent launch of our AI-powered 3D model search engine tool.” He continued, “We are actively building and launching new breakthrough AI for the mass scale of 3D models and continuing to apply for and develop new patents around our proprietary AI technology.”
CB2
CB2 have agreed on a six figure expansion contract for an additional 500 3D product models. Additionally, they are renewing their hosting agreement to continue hosting 2500+ 3D product models on their website that Nextech previously created for them. CB2 is a division of Crate and Barrel, a major modern furniture and home decor retailer. In total, CB & CB2 operate approx 110 U.S. locations and 24 brick-and-mortar locations across North America.
View 3D product model of a couch on CB2 website: click here
Artika
Artika, renowned for its avant-garde lighting solutions, has not only renewed their contract for more 3D models but also extended their hosting agreement with Nextech3D.ai.
View 3D product model of a light on the Artika website: click here
Raptor Tactical
Renewing their commitment to Nextech3D.ai, Raptor Tactical has signed a renewal deal for more 3D models, showcasing the enduring partnership between the two companies. Raptor Tactical is a designer and manufacturer of modern tactical equipment for Military, Police and other Law enforcement units. A 3D product model can be explored on Raptor Tactical's website at https://raptortactical.com/mifak-modified-individual-first-aid-kit/.
William Wood Mirrors
William Wood Mirrors has chosen to renew their contract with Nextech3D.ai, signaling continued trust in the company's ability to deliver high-quality 3D models. William Wood has almost four decades of experience in designing and manufacturing mirrors, lighting, and occasional furniture.
EOD Gear
EOD Gear, a new customer in the Nextech3D.ai portfolio, has joined forces with the Company for cutting-edge 3D modeling solutions. EOD Gear supplies EOD and Tactical Gear to EOD Techs and Commands, SWAT and Individuals.
City Grounds
City Grounds, an existing partner of Nextech3D.ai, has renewed their hosting contract, further solidifying their commitment to the exceptional services provided by the 3D modeling experts. City Grounds offers a curated selection of high-quality merchandise tailored to the urban cycling lifestyle.
These customers are collaborations that showcase Nextech3D.ai's commitment to providing cutting-edge 3D modeling solutions to a diverse range of industries.
AI Powered 3D Model Search Engine
The Company's innovative approach is further highlighted by their recent launch of its in-house built AI-powered 3D model search engine, aimed at scaling the production of 3D models. This groundbreaking AI search engine uses computer vision with AI and is designed to speed-up and scale-up operations for the 3D modeling process. The AI based search engine uses images to search Nextech’s internal library of 3D models and recommends a close match to the given image. This enables the Company to speed up the process of 3D model creation, 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.
Watch a demo of the AI-Powered 3D model search engine tool - click here
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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 various e-commerce 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.
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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.
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