Nextech AR Solutions Corp. (CSE:NTAR, OTCQX:NEXCF) has announced the launch of new machine learning (ML) and computer vision technology for the Toggle3D platform.
The company said the new features will open up opportunities for developers looking for an efficient way to create complex virtual experiences with minimal effort or cost constraints.
Toggle3D enables the conversion, texturing, customizing and sharing of the highest quality 3D models at scale, using CAD files and is able to convert CAD to a GLB and reduce file size by 95%, creating an industry-leading solution for the $160 billion CGI market, the company explained.
“We are very excited about this development as it marks yet another technological milestone leveraging AI, ML and computer vision while bridging the gap between engineering CAD files and artistry of 3D modeling," Nextech AR CEO Evan Gappelberg said in a statement.
"We believe these features will enable developers around the world to unlock more possibilities when creating 3D models from CAD files. These new features are aiming to increase the subscriptions on the Toggle3D platform and contribute to our SaaS revenue generation,” he added.
READ: Nextech AR Solutions says Q1 2023 is currently tracking to be a record quarter for 3D modeling
Nextech said the technology advancements further position Toggle3D to be the preferred standard in the 3D modeling industry and in the $160 billion Global GGI Application Software market as an all-in-one platform for CAD-web 3D design.
Commenting on the planned IPO spin-out of Toggle3D, first announced on February 2, 2023, Gappelberg said Nextech is moving forward with the plans and that Toggle3D.ai is expected to start trading on the CSE under the symbol TGGL in the second quarter of 2023, although he added that "no assurances can be given”.
Technical Importance
The Toggle3D algorithms are built on machine learning and can detect components of a CAD file that are not visible when it is converted into a mesh model. This allows users to reduce the size of their meshes without sacrificing quality or accuracy. Additionally, each component in the model will be given a “visibility-score” ranging from 0.0 to 1.0 which can help optimize mesh densities by allocating polygons based on visibility levels.
A conversion of this file to an OBJ mesh, using the built-in mesh tools in CAD software (in this case FreeCAD) resulted in a file that is more than 625MB in size. Using the current Toggle3D engine, the resulting GLB file size was 83.3MB (86% reduction). The new optimization algorithm removes 131 of the total 215 parts in the CAD file, to create a GLB file with size 31.6MB with no difference in final visual look of the model (95% reduction compared to native CAD mesh creation).
Toggle3D is an AR-enhanced standalone web application that 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.
Nextech believes that Toggle3D is the first platform of its kind, and this break-through Software-as-a-Service (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 by 2023, Nextech noted.
Nextech AR 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.
Contact the author at jon.hopkins@proactiveinvestors.com