- Uses AI to Turn CAD files into Web3D Models at Scale
- To be preferred standard in the $160 Billion Global GGI Application Software market
TORONTO, ON / ACCESSWIRE / April 25, 2023 / Nextech3D.AI (formally "Nextech AR Solutions Corp" or the "Company") (OTCQX:NEXCF)(CSE:NTAR)(FSE:EP2), a Generative AI-Powered 3D model supplier for Amazon, P&G, Kohls and other major e-commerce retailers is pleased to announce that it has received conditional listing approval from the Canadian Securities Exchange (the "CSE") for Toggle3D.ai. Toggle3D is an AR enhanced standalone web application which enables product designers, 3D artists, marketing professionals and eCommerce site owners to create, customize and publish high-quality 3D models and experiences without any technical or 3D design knowledge required.
Toggle3D.ai Listing Updates:
- The Company has received conditional listing approval for Toggle3D.ai from the CSE
- The approved new CSE trading symbol: TGGL
- Trade date is expected to be in the first half of June, 2023 on the CSE
- The Company has begun working on getting dual-listed in the United States on the OTC, and Internationally on the Frankfurt Stock Exchange
- On April 27th, 2023 the Toggle3D.ai prospectus mailing to 30,000 Nextech3D.ai shareholders is expected to occur using notice-and-access procedures to deliver the 2023 Meeting materials to beneficial Shareholders
- Annual General and Special Meeting (AGSM) is scheduled to take place virtually on June 5th 2023 at 10:00 a.m. (Pacific time)
- After the AGSM meeting, the final hearing to approve the plan of arrangement is scheduled for June 9th with a listing date of Toggle3D.ai shortly after
Initially announced in February 2023, the Company is closing in on finalizing the spin-off. The spin-off will result in Toggle3D.ai as a stand alone public company, with Nextech3D.ai retaining an aggregate of 13,000,000 common shares and Nextech shareholders of record receiving a total of 4,000,000 newly issued dividend shares in Toggle3D.ai on a pro-rata basis.
Launched in September 2022, Toggle3D.ai is an AR enhanced standalone web application which enables product designers, 3D artists, marketing professionals and eCommerce site owners to create, customize and publish high-quality 3D models and experiences without any technical or 3D design knowledge required. The Company believes that Toggle3D is the first platform of its kind, and this break-through SaaS product is a potential game changer for the manufacturing and design industry, as it provides a viable solution to convert large CAD files into lightweight 3D models at affordable prices and at scale. According to BIS Research, the CAD market, quantified by the amount spent on the creation of CAD files, is projected to reach $11 Billion dollars by 2023.
Top Three Competitive Advantages of Toggle 3D Versus 3D Legacy Software Generating $11 Billion In Revenue
1. NO Learning Curve: What makes Toggle3D.ai different from the legacy 3D design software is its ease-of-use and democratization of 3D design. The goal is for anyone with no prior technical or 3D design experience to be able to hop into the platform and create a high-quality 3D visual in minutes. This is unlike legacy 3D modeling systems, that require months to truly feel comfortable with. Users would first be required to learn and understand the industry lingo, learn what the tools do and then learn how to use them in the legacy software. Meanwhile, we have streamlined this process in Toggle3D.ai by "humanizing" 3D design terminology, creating templates to guide creation and simplifying the tools using machine learning to transfer the complexity out of the user experience into the backend platform, and instead allow more room for creativity.
2. Web-based: Toggle3D.ai is a web-based design studio which means the user can access everything on the browser and start designing instantly. No desktop downloads involved, no updates to keep track of, and no system requirements to worry about. All the templates are organized into project panels that a user can access anywhere and seamlessly navigate between. This is different from how legacy software was built back in the day with the software package being broken out into multiple desktop apps that would require the user to understand system compatibility, download, sync, and learn independently.
3. Collaboration: Toggle3D.ai will allow advanced, in-app collaboration. These new sets of features will allow multiple users to work at the same time and on the same project resulting in quick feedback and decision making cross-department, and team. These tools will allow businesses to adopt 3D organization-wide and unlock the power of group iteration. Users could set up workflows, permissions, and version history to keep up with real-time design changes. These advanced collaboration cycles are harder to set up in desktop apps and may sometimes slowdown or isolate the design workflow.
Recent Toggle3D.ai News
- Nextech3D.ai AI-Powered CAD Design Studio Toggle3D Achieves 10X File Reduction Opening Up The platform to New Large Enterprise Customers
- Nextech3D.ai Announces Its AI-Powered SaaS Platform Toggle3D Experiences A +963% Jump in Users in 60-Days Crossing Over 1000 Users
- Nextech AR's AI-Powered CAD-3D Design Studio Toggle3D Launches New Machine Learning and Computer Vision Technology
Nextech3D.ai (formally "Nextech AR Solutions Corp" or the "Company") (OTCQX:NEXCF) (CSE:NTAR) (FSE:EP2) is a Company that provides AI-powered 3D modeling solutions focusing on the e-commerce industry. Its breakthrough generative AI technology enables the creation of high-quality 3D models quickly and efficiently. Nextech3D.ai's suite of products, including patented AI-based technology for 3D model creation and 2D to 3D conversion, has positioned it as a leader in the industry. The company is already a preferred 3D model supplier for Amazon, representing a massive growth opportunity. With the increasing popularity of e-commerce globally, Nextech3D.ai's services are becoming more valuable, providing an excellent runway for ongoing growth. For investors looking to participate in the commercialization of AI technology, Nextech3D.ai presents a unique investment opportunity.
The Company also 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" as a stand alone public Company. Nextech3D.ai retained a control ownership in ARway.ai with 13 million shares, or a 50% stake, and distributed 4 million shares to Nextech AR Shareholders. ARway.ai is currently listed on the Canadian Securities Exchange (CSE:ARWY), in USA on the (OTC:ARWYF) and Internationally on the Frankfurt Stock Exchange (FSE:E65). ARway.ai is disrupting the augmented reality wayfinding market with a no-code, no beacon spatial computing platform enabled by visual marker tracking.
On December 14, 2022 Nextech announced its second spinout of Toggle3D.ai, an AI-powered 3D design studio to compete with Adobe. Toggle3D.ai is expected to be public in the first half of 2023.
For further information, please contact:
Investor Relations Contact
866-ARITIZE (274-8493) Ext 7201
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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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