Nextech3D.ai Announces Formation of AI Incubator and AI Acquisition & Development Division With Potential 2024 IPO Spin Out
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TORONTO, ON / ACCESSWIRE / March 12, 2024 / Nextech3D.AI (OTCQX:NEXCF)(CSE:NTAR)(FSE:1SS), a Generative AI-Powered 3D model supplier for Amazon, P&G, Kohls and other major e-commerce retailers announces the launch of its new AI Incubator and AI Development Division, signaling a significant leap forward in its commitment to advancing artificial intelligence technologies. This new venture, set to be spearheaded by a dynamic team of three esteemed AI scientists alongside the visionary leadership of Evan Gappelberg, CEO of Nextech3D.ai, and Hareesh Achi, former Microsoft executive renowned for his pivotal role in digital transformation and technology strategy. This new division marks a major milestone in Nextech3D.ai's growth trajectory and sets the stage for additional potential IPO spin- outs of new AI technology Companies to its shareholders.
The AI Incubator and Development Division is established with the mission to nurture AI solutions that will enhance the human experience across various sectors, including education, healthcare, ecommerce, blockchain, retail, and more. This initiative is a testament to Nextech3D.ai's dedication to pushing the boundaries of what's possible in AI and 3D technology integration for its shareholders.
Evan Gappelberg, celebrated for his foresight and innovation in the tech arena, will provide strategic direction and vision for the division. His leadership has already positioned Nextech3D.ai and its two spin outs Toggle3D.ai and ARway.ai as frontrunners in the 3D technology landscape.
Joining him in steering this ambitious project is Hareesh Achi, an ex-Microsoft and META executive whose expertise in AI, digital advertising, and operational efficiency has earned him acclaim in the technology community. Achi's proven track record of leading high-impact teams and his strategic vision for AI applications make him an invaluable asset to the Nextech3D.ai leadership team.
The division's core team of AI scientists, handpicked for their pioneering work and contributions to the field of artificial intelligence, will focus on developing AI-driven technologies and solutions that are not only innovative but also ethically responsible and sustainable.
Katyani Singh, Computer Vision/Machine Learning Scientist who obtained her Masters in Computing Science at the University of Alberta. Her research interests lie in Computer Vision and Deep Learning.
Amir Salimnia, Computer Vision/Machine Learning Scientist, who is an MSc. Computer Engineering graduate from Western University with more than three years of experience developing machine learning.
Omid Alemi, Machine Learning Researcher and Software Engineer, who holds an MSc in Computer Science from the University of Northern British Columbia and a BSc in Software Engineering from the University of Arak and has 3+ years experience working on developing and deploying machine learning solutions for computer vision and 3D asset creation.
This core team of AI scientists will conduct research and development efforts geared towards creating AI tools and applications that empower businesses and consumers alike, fostering a future where technology and humanity intersect seamlessly.
New Path to Innovation and Growth
In a groundbreaking move, Nextech3D.ai has announced that once the AI technologies incubated within the AI Incubator and Development Division reach commercialization, they will be spun out as new public companies as it has done this twice already with Toggle3D.ai and ARway.ai. This strategic approach not only accelerates the path to market for these innovative solutions but also maximizes value for Nextech3D.ai shareholders. Following the successful precedents set by Arway.ai and Toggle3d.ai, shareholders in Nextech3D.ai will receive a stock dividend in these new entities, underscoring Nextech3D.ai's commitment to rewarding its investors and fostering a vibrant ecosystem of technology ventures.
CEO Evan Gappelberg stated, "We are at the cusp of a new era in AI and 3D technology. With the launch of our AI Incubator and Development Division, and our unique approach to commercialization and value creation."
Hareesh Achi added, "It's an honor to join forces with Evan and the incredible team at Nextech3D.ai. Together, we're not just exploring the potential of AI; we're shaping its future, ensuring that the technologies we develop are used to make a meaningful difference in the world. The opportunity to directly reward our shareholders as we grow and spin out these innovations into new public companies is incredibly exciting."
The AI Incubator and Development Division is now actively working on several projects, investing heavily into the future of AI while also looking at possible acquisitions with more innovative solutions and updates expected to be unveiled in the coming months.
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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 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
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
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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.
SOURCE: Nextech3D.ai
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