Nextech3D.ai (CSE:NTAR, OTCQX:NEXCF) - formally Nextech AR Solutions Corp - has announced its AI-powered Software-as-a-Service (SaaS) CAD to 3D Design Platform, Toggle3D has crossed over 1,000 sign-ups on the platform.
Toggle3D enables the conversion, texturing, customizing and sharing of the highest quality 3D models at scale, using CAD files. Since the Beta launch, the platform has attracted a variety of users such as designers, developers, 3D artists, entrepreneurs and creators, reaching over 1,000 users on the platform within two months, which is a 963% increase since the start of the year.
The rapid adoption of this technology positions Toggle3D to become an industry leader in the estimated $160 billion Global GGI Application Software market.
In a statement, Nextech3D.ai CEO Evan Gappelberg commented: “We are thrilled to see that Toggle3D has surpassed over 1,000 sign-ups with 30% weekly growth and 963% growth in the past 60 days, while still in BETA! This is a testament to the hard work of our team and the value that the platform provides to its users. With a first mover advantage and ongoing AI enhancements we see Toggle3D as setting the standard as the all-in-one platform for CAD-3D model conversion.”
READ: Nextech3D.AI files second in a series of patents for converting 2D photos to 3D models
He added: “We are also on track for the spin-out IPO of Toggle3D, which we expect to be completed in approximately the next 60 days with the trading symbol being: TGGL. We firmly believe that Toggle3D is commercially ready to disrupt the Global CAD and Global CGI markets and once spun-out, we believe that it will create additional value for Nextech shareholders, just as the ARway spin-out did.”
In late January, Toggle3D officially launched the Beta Version of its web-based design studio for converting, texturing, customizing and sharing web-friendly 3D models.
With its focus on CAD files, but also accepting other 3D formats, the Toggle3D platform converts heavy manufacturing files into lightweight 3D models for the web. After the conversion, users are provided easy-to-use point-and-click texturing tools to add materials to their models, change colors and add variations.
As more users are signing up and trying out the platform, Toggle3D is accumulating valuable information regarding users' behavior on the platform to speed up development, reinforce product-market fit and double down on critical pain points. The plans are priced at $29 a month on a per user level meaning that multiple users in the same team will pay for each person on the team to have an account in Toggle3D, reinforcing the SaaS recurring revenue business model.
Nextech3D.ai 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 spinout.
Contact the author at jon.hopkins@proactiveinvestors.com