ARway Corporation (CSE:ARWY, OTC:ARWYF) rounded out its second quarter of fiscal year 2023 with ample cash to continue developing its AI-powered platform, while targeting S&P 500 companies for its application for next-generation devices.
For the period ended February 28, 2023, the Toronto-based disruptor in the augmented reality (AR) Wayfinding market, reported a cash balance of close to $1 million and initial revenue from pilot programs.
“We are excited by the early success of our pilot programs with ARway and believe that we have created the killer application for the next generation of devices: the AR glasses,” ARway CEO Evan Gappelberg said in a statement.
“Augmented reality Wayfinding is going to be a very big deal in 2023. Business momentum is building and deals with S&P 500 companies and others are expected to be landed in 2Q/3Q 2023,” he added.
ARway Corporation (CSE:ARWY, OTC:ARWYF) is building infrastructure to help people find their way in the real-world Metaverse. The company has developed a no-code spatial computing platform, headlined by augmented reality (AR) enhanced indoor navigation and wayfinding solutions that deliver step-by-step directions to users.
The company’s AI-powered platform provides augmented reality experiences for indoor spaces. It allows users to easily create experiences for navigation, tours, information sharing, notifications, advertising, and gamification.
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