Nextech3D.ai Expands AI Tech Team and Doubles Office Space as Demand Increases for GPT AI Platform and 3D Model Production in Hyderabad, India

Rhea-AI Summary

Nextech3D.ai is expanding its AI tech team and negotiating major licensing deals for its GPT AI 3D modeling technology, aiming to revolutionize the accessibility and affordability of high-quality 3D models for e-commerce and other industries.

Positive

• Nextech3D.ai is doubling its office space in Hyderabad, India, to accommodate its growing team.
• The company is in negotiations for a significant license of its GPT AI 3D modeling CAD to 3D and texturing technology.
• By licensing its GPT AI technology, Nextech3D.ai aims to overcome traditional barriers of price and volume, making high-quality 3D modeling technology more accessible.
• The company's technology has reduced the cost of 3D models from CAD files to $10 to $20 while maintaining top-notch quality, catering to scalability and profitability.
• Nextech3D.ai CEO, Evan Gappelberg, sees the potential of their GPT AI technology in driving widespread adoption of 3D models, especially in industries where cost has been a limiting factor.
• The company is targeting large manufacturers producing numerous products annually, offering them a cost-effective solution for transitioning to 3D models.

Negative

• None.

Company is Negotiating Major Licensing Deals For its GPT AI 3D Modeling Technology

TORONTO, ON / ACCESSWIRE / February 22, 2024 / Nextech3D.ai (OTCQX:NEXCF)(CSE:NTAR)(FSE:1SS), a Generative GPT AI-Powered 3D model supplier for Amazon, P&G, Kohls, Miele and others including major e-commerce platform integrations with Shopify, BigCommerce and WooCommerce is pleased to announce the expansion of its AI tech team by doubling its office space in Hyderabad, India, to accommodate its expanding team. The Company is also in negotiations for a major license of its GPT AI 3D modeling CAD to 3D and texturing technology. Nextech3D.ai will continue to supply 3D models to the largest brands and .platforms as it gears up increasing revenue and profit margins by signing licensing deals with global manufactures that have CAD files.

3D GPT AI Licensing Technology
The Company's strategic move to license its GPT AI tech is set to remove the traditional barriers of price and volume that have long restricted the accessibility of high-quality 3D modeling technology for e-commerce and other industries. Nextech3D.ai has leveraged its groundbreaking GPT AI powered technology to dramatically slash the cost of 3D models from CAD files to $10 to 20 while producing the highest quality 4K quad mesh photo realistic models, enabling scalability while being highly profitable.

Evan Gappelberg, CEO of Nextech3D.ai commented, "Our GPT AI technology has the potential to open the floodgates for 3D model adoption in this new AI era. We are negotiating with a number of large manufacturers which produce hundreds of thousands of products annually that want to go 3D but can't afford the traditional cost of $75 to $150/model. We believe that with our new groundbreaking technology enabling breakthrough pricing and scale, that we will land many of these large contracts since the previous friction point has been price and scale." He continued, "AI is transforming our world and how we think about 3D modeling and the AI that powers the production of 3D models for e-commerce."

Nextech3D.ai's spin-out company, "Toggle3D.ai" offers users an intuitive point-and-click interface that revolutionizes the creation of 3D models. By merely importing a CAD file, companies, brands and users can effortlessly use Toggle3D's user-friendly platform to generate 3D models, apply AI-driven texturing, utilize a virtual photography studio, and much more. This platform is especially transformative for the realm of e-commerce, where the virtual photography studio eliminates the need for physical product photography, saving large brands millions of dollars.

A key aspect of this strategic shift is the licensing of Nextech3D.ai's technology to major manufacturers, enabling their own employees to create high quality, 4K resolution 3D product models without requiring specialized skills in 3D modeling. This is game changing as it empowers businesses to harness the full potential of 3D modeling internally, while reducing the 3D model production cost by as much as 80%.

Toggle3D.ai is currently in advanced discussions with a large manufacturer for a contract valued in the seven figures. This not only exemplifies the market's enthusiasm for 3D models, but also signifies the platform's potential to redefine how businesses approach shopping experiences and 3D models for e-commerce.

India Office
Initially announced in September, 2023, Nextech3D.ai moved operations to Hyderabad, India. The focus on high-scale production and cost savings by setting up operations in India has resulted in growing profit margins for the Company and a significant improvement in operational efficiencies. The initiative has been led by the Company's Head of Product Operations, Hareesh Achi, who has over a decade of technology experience as a former Microsoft and Meta executive.

The move to India has created a cash flow positive 3D model division for Nextech3D.ai by optimizing production processes and taking advantage of cost-effective resources in the region. With these initiatives and others, the Company is positioning itself for enhanced profitability for years to come in a rapidly evolving market.

See more details and images of the India Office - click here

Nextech3D.ai employees in Hyderabad, India.

Recent News

• 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
• Nextech3D.ai's Breakthrough AI Powered Search Engine Able to Deliver a 500% Increase in Productivity

Sign up for Investor News and Info -Click Here

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 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 technology is Nextech3D.ai negotiating major licensing deals for?

Nextech3D.ai is negotiating major licensing deals for its GPT AI 3D modeling technology.

Where is Nextech3D.ai expanding its office space to accommodate its growing team?

Nextech3D.ai is doubling its office space in Hyderabad, India.

What is the aim of Nextech3D.ai in licensing its GPT AI technology?

Nextech3D.ai aims to make high-quality 3D modeling technology more accessible by overcoming traditional barriers of price and volume.

How much has the cost of 3D models been reduced to by Nextech3D.ai's technology?

The cost of 3D models from CAD files has been reduced to $10 to $20 by Nextech3D.ai's technology.

Who commented on the potential of Nextech3D.ai's GPT AI technology in driving widespread adoption of 3D models?

Evan Gappelberg, the CEO of Nextech3D.ai, commented on the potential of their GPT AI technology.

Which industry is Nextech3D.ai targeting with its cost-effective 3D modeling solution?

Nextech3D.ai is targeting large manufacturers producing numerous products annually.