Nextech3D.AI Announces New Deals and Renewals in 3D Modeling Business

Rhea-AI Summary

Nextech3D.AI, a leading AI-powered 3D model supplier, has announced multiple new deals and renewals in its 3D modeling business. The company has delivered over 70,000 models and anticipates significant growth in 2024, driven by Amazon's expanding 3D model platform. Nextech3D.AI is extending its market reach into sectors such as brake pads, power tools, and more. CEO Evan Gappelberg highlighted the increasing demand for 3D AI models and digital renders in e-commerce, noting their ability to create immersive shopping experiences.

New models include brake pads, rotors, and Bosch power tools, with renewals from brands like City Grounds, Kromer, and William Wood Mirrors. Amazon's shift to 3D models is expected to enhance customer engagement and sales conversions. Nextech3D.AI's ARitize 3D solution offers automated 3D model creation, aiming to transform e-commerce with high-detail, interactive experiences.

Positive

• Nextech3D.AI has delivered over 70,000 models for various industries.
• Anticipates significant growth in 2024 due to Amazon’s expanding platform.
• Extending market reach to new sectors like brake pads, power tools, and more.
• Renewing contracts with significant brands such as City Grounds and William Wood Mirrors.
• Amazon's adoption of 3D models expected to boost customer engagement and sales.
• ARitize 3D offers affordable, scalable, AI-powered 3D model creation.

Negative

• No specific financial figures indicating revenue growth or profitability.
• Potential dependency on Amazon's platform for significant growth.
• Uncertainty around competitive pressures in the growing 3D modeling and AR market.
• No mention of new financial investments or funding to support expansion.

Nextech3D.ai Continues to Sign New & Renewal 3D Modeling Deals plus AR Visualization For Enterprise Ecommerce

TORONTO, ON / ACCESSWIRE / May 17, 2024 / Nextech3D.AI (OTCQX:NEXCF)(CSE:NTAR)(FSE:EP2), a patented 2D-3D generative AI-powered 3D model supplier (Patent #11,948,248) for major e-commerce retailers including Amazon, Miele, P&G, and Kohl's, is pleased to announce a series of exciting new deals and renewals for its 3D modeling business. To date, the company has delivered over 70,000 models to customers across various industries and expects significant growth in 2024 and beyond, driven by Amazon's expanding platform for 3D models and AR experiences. The company is also extending its market reach into sectors like brake pads, calipers, crossbows, Bosch power tools, pallet jacks, and more.

CEO Evan Gappelberg Comments on Expansion and Innovation

Evan Gappelberg, CEO of Nextech3D.AI, stated, "Today, we are seeing more companies, both large and small,across many new industries interested not just in 3D AI models but also in 3D AI digital renders, which we now offer alongside our 3D AI models. This creates additional value from the 3D model itself. 3D AI and AR produce 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 leader in 3D AI e-commerce."

Showcase of New 3D Models

• Brake Pad
• Caliper
• Rotor
• Crossbow
• Bosch Power Tool (Amazon)
• Global Pallet Jack
• Global Industrial Fan

Renewals with Global Brands

• City Grounds: Offering innovative merchandise for urban cycling needs and more. View Bicycle 3D Model
• Kromer: Providing commercial scissor lifts, column lifts, and mobile lifting platforms in Germany.
• William Wood Mirrors: A UK-based company with decades of experience in mirrors, lighting, and furniture. View Mirror 3D Model
• Armadillo Tough: An American company specializing in garage cabinets, shelving racks, and workbenches. View Work Station 3D Model

Explore Existing 3D Product Models on Amazon

• View Vornado Velocity 1 Personal Space Heater
• View Vornado MVH Vortex Heater

Why AI and 3D Modeling, and Why Now?

The e-commerce landscape is evolving rapidly, with consumers demanding more interactive and engaging shopping experiences. AI and 3D modeling technology offer a dynamic, immersive, and personalized shopping journey. Major brands are incorporating 3D models and AR shopping, including Amazon, Walmart, CB2, IKEA, Sephora, and Target.

Amazon, valued at $2 trillion, is leading this shift by 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, creating tens of thousands of 3D models monthly. According to Amazon, the benefits of 3D/AR models include:

• 8x increase in customers viewing products in AR
• 2x improvement in purchase conversion with AR Virtual Try-On
• 94% of customers willing to use Virtual Try-On again
• 9% increase in sales with "View in Your Room"

The Power of 3D Models in E-Commerce

3D models enable customers to visualize products in high detail from every angle, enhancing decision-making confidence and leading to higher conversion rates. This reduces returns, saves costs, and improves customer satisfaction. Additionally, interactive 3D models increase customer engagement, directly correlating with increased sales.

Nextech3D.AI: Leading the Future of E-Commerce

As online shopping continues to grow, the demand for immersive and interactive experiences is increasing. Nextech3D.AI is at the forefront of this mega-trend, transforming online shopping into an interactive adventure with its patented AI-powered 3D modeling technology, catering to major e-commerce platforms like Amazon.

ARitize 3D

ARitize 3D is the one-stop-shop AR solution with automated 3D model creation at an unbeatable price. Our AI turns existing 2D product images or CAD files into 4K 3D AI and AR experiences. It's fast, easy, and transformative for e-commerce websites. ARitize 3D is affordable, scalable, frictionless, AI & ML powered, and offers end-to-end solutions from modeling to AR integration.

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

FAQ

What new deals has Nextech3D.AI announced?

Nextech3D.AI announced new 3D modeling deals in sectors like brake pads, power tools, and more.

What are some renewed contracts mentioned by Nextech3D.AI?

Renewed contracts include City Grounds, Kromer, and William Wood Mirrors.

How many 3D models has Nextech3D.AI delivered?

Nextech3D.AI has delivered over 70,000 3D models to customers.

What is the anticipated growth for Nextech3D.AI in 2024?

Nextech3D.AI expects significant growth driven by Amazon's expanding 3D model platform.

Which major e-commerce retailer is Nextech3D.AI associated with?

Nextech3D.AI is associated with Amazon for creating tens of thousands of 3D models monthly.

How does Amazon's shift to 3D models benefit Nextech3D.AI?

Amazon's shift is likely to enhance customer engagement and sales, benefiting Nextech3D.AI.

What is ARitize 3D?

ARitize 3D is Nextech3D.AI's solution for automated 3D model creation for e-commerce.