Nextech3D.ai
Announces $2.2 Million Expansion Contract From Its Largest
Enterprise Customer Driving A Surge In 3D-Modeling Demand in
Q3
Q3
Sales Rapidly Rise As Company Pushes Towards Going Cash Flow
Positive
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Investor Livestream Tues Aug 1
Toronto, ON, Canada
-- July 27, 2023 -- InvestorsHub NewsWire
-- Nextech3D.AI (formerly Nextech AR
Solutions Corp) (OTCQX:
NEXCF) (CSE:
NTAR) (FSE: EP2), a leading Generative AI-Powered 3D modeling
supplier for major e-commerce brands such as Amazon, P&G,
Kohls, and Dyson, has announced a significant increase in demand
from its largest customer - Amazon. These new 3D model
orders amount to $2.2 million in additional revenue. Moreover, the
Company's profit margins are expanding significantly, primarily
attributed to its groundbreaking generative AI technology driven
productivity enhancements. As a result, the Company is now rapidly
progressing towards achieving positive cash flow.
This new expansion
contract from Amazon highlights Nextech's breakthrough Generative
AI technology, which positions Nextech3D.ai as the globally
dominant AI solution for scaling the production of 3D models in the
booming e-commerce industry, gaming and manufacturing.
Evan Gappelberg, CEO of
Nextech3D.ai commented, "Due to our experienced team and our AI's
ability to scale to meet and even exceed the very strict 3D model
requirements of Amazon, they have expanded and dramatically
increased volumes resulting in a significant surge in 3D model
demand from Amazon starting in Q3, 2023." He continued,
"As we move into the 2nd
half of 2023 and beyond, the shift from 2D photos to 3D models in
e-commerce and various industries is rapidly gaining momentum and
becoming the standard for commerce. This kind of transformation has
occurred throughout history, with some companies reaping
significant rewards while others face challenges. Just as digital
pictures replaced Kodak film in the 1990s, today, in the 2020s, 3D
models are replacing digital pictures in commerce. Today about
12-Trillion digital pictures exist globally. Our latest news is
welcome for our shareholders, as we are positioning ourselves with
this latest $2.5mill capital raise in anticipation of exponential
growth in demand and revenue from the millions of Amazon merchants
that have yet to purchase 3D models from Nextech. Having been a
supplier for the past 12 months and delivering over 25,000+ 3D
models to Amazon, the largest ecommerce site, positions us at the
forefront of this cutting-edge technological revolution, we are
focused on profitability and enthusiastic about driving innovation
in the 3D modeling industry."
With expansion beyond
e-commerce into gaming and manufacturing, Nextech3D.ai offers
investors a unique opportunity to be part of a company driving
AI-powered innovation in the lucrative 3D modeling
sector.
Furthermore,
Nextech3D.ai's Generative AI technology has led to significant
profit margin expansion, contributing to the Company's progress
towards achieving positive cash flow. The Company recently filed a
provisional patent titled "Generative AI for 3D Model Creation from
2D Photos using Stable Diffusion with Deformable Template
Conditioning," which builds on a previous patent filed in November
2022. This groundbreaking AI technology sets Nextech3D.ai apart as
a leader in the 3D modeling for e-commerce industry..
Nextech3D.ai has been
amassing a vast library of 3D models, composed of individual parts,
and is expanding this library to eventually hold millions of unique
parts. This expansive parts library enables rapid 3D model creation
by searching, assembling, and utilizing the existing parts,
significantly reducing creation time and fueling further innovation
in the industry.
Investor Livestream
JOIN US: Tuesday,
August 1st, 2023
TOPIC: Amazon
Partnership Part II
Time: 12:00 p.m
ET / 9:00 a.m PT
Presenters: Evan
Gappelberg (Founder and CEO), and Reza Davariar (COO)
Link to join:
https://www.youtube.com/watch?v=aL2bz3wlpvI
To watch part I of this livestream series, click here: The Nextech3D.ai Amazon
Partnership Explained
To learn more, please
follow us on
Twitter,
YouTube,
Instagram,
LinkedIn,
and
Facebook, or
visit our website:
https://www.Nextechar.com.
About
Nextech3D.ai
(formally "Nextech AR
Solutions Corp" or the "Company") (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.ai" as
a stand alone public Company. ARway.ai is disrupting the augmented
reality wayfinding market with a no-code, no beacon spatial
computing platform enabled by visual marker tracking. Nextech3D.ai
retained 13 million shares in ARway and distributed 4 million
shares to Nextech3D.ai shareholders. ARway.ai 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).
On June 14, 2023, the
Company completed its second spinout of Toggle3D.ai, a
groundbreaking SaaS solution that utilizes generative AI to convert
CAD files, apply stunning 4K texturing, and enable seamless
publishing of superior 4K 3D models. Nextech3D.ai retained 13
million shares in Toggle3D.ai and distributed 4 million shares to
Nextech3D.ai shareholders. Toggle3D.ai is trading on the Canadian
Securities Exchange (CSE:TGGL) and in the USA
(OTC:TGGLF).
To learn more about
ARway, visit
https://www.arway.ai/
For further information,
please contact:
Investor Relations
Contact
Lindsay Betts
investor.relations@Nextechar.com
866-ARITIZE (274-8493)
Ext 7201
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.