ARway.ai (CSE:ARWY, OTCQB:ARWYF) has announced the provisional patent approval for its groundbreaking technology called 'Device Localization based on Computer Vision and Visual Inertial Odometry'.
The patent filing with the United States Patent and Trademark Office marks a significant advancement in Augmented Reality (AR) innovation and establishes ARway at the forefront of the $44 billion global indoor positioning and indoor navigation market.
In a statement, Evan Gappelberg, CEO of ARway, commented: “This patent is not just a testament to ARway's technical acumen but also highlights its commitment to delivering enhanced AR experiences.”
He added: ”ARway is poised to make a significant impact across a multitude of industries, propelling user engagement to new heights, catalyzing new business opportunities in AR and helping to usher in the Spatial computing age.”
ARway's technology addresses a critical challenge in AR by providing large-scale location persistence in indoor spaces without the need for expensive retrofitting. The system integrates visual markers, such as QR codes or other identifiable 2D objects, with an online map database. By detecting markers and cross-referencing them with the digital map, the device's physical location is determined. Visual-inertial odometry (VIO) is then employed to track the device's movement, ensuring continuous location estimation.
With this invention, ARway is poised to redefine the future of Augmented Reality, establishing itself as a frontrunner in the AR Spatial computer space. The company has recently achieved several milestones, including compatibility with Apple Vision Pro, Magic Leap, and HoloLens, as well as a strong sales pipeline, with revenue potential exceeding $1.4 million for 2023.
ARway.ai is an AI-powered spatial computing platform that offers a range of augmented reality experiences for indoor spaces. Its innovative no-code, no-beacon IPIN enables easy navigation, tours, information sharing, notifications, advertising, and gamification. ARway works seamlessly across iOS and Android platforms and is optimized for mobile devices as well as AR glasses like Apple's Vision Pro, Magic Leap, and HoloLens.
With unlimited use cases in augmenting physical spaces, ARway provides a valuable tool for creators, brands, and companies across various industries. The complete ARway platform includes the Web Creator Studio, the ARwayKit Software Development Kit (SDK), and a mobile app for iOS and Android.
ARway.ai was spun out from its parent company, Nextech3D.ai, on October 26, 2022, with Nextech retaining a 50% stake.
Contact the author at jon.hopkins@proactiveinvestors.com