Nextech3D.AI (CSE:NTAR, OTCQX:NEXCF) has announced a series of new deals and renewals for its flagship product, ARitize3D, which is driving the company's growth.
The company said it has successfully delivered over 37,700 3D models to its customers in various eCommerce industries, positioning itself for further expansion as more merchants transition from 2D flat photos to immersive 3D experiences.
Nextech3D.ai attributes its success to its breakthrough generative-AI technology, which has revolutionized the 3D modeling industry and solidified its leadership position in the global market.
In a statement, Evan Gappelberg, the CEO of Nextech3D.ai, commented: "We are just getting rolling with our production for 3D models and are thrilled to announce that we have surpassed 37,775 3D models delivered to our customers. We continue to sign new deals, as we are redefining the shopping experience, bridging the gap between the physical and digital."
The company believes that the massive shift from 2D to 3D in the global e-commerce ecosystem presents a significant growth opportunity.
Gappelberg added: "The massive global eCommerce ecosystem is pivoting from 2D photos to 3D models, and we strongly believe that we are only at the beginning of a megatrend opportunity, as Amazon alone has 300,000,000 products that need to go 3D."
Nextech3D.ai said it has secured several new and renewal deals with companies across various industries. Some notable examples include Transit Inc, an automotive parts manufacturer and distributor; William Wood Mirrors, a manufacturer of mirrors and lighting; and Conforama, one of Europe's largest home furnishings companies.
In addition to its business updates, Nextech3D.ai has ramped up its 3D model production, with a total of 37,775 models produced from Q1 2021 to Q2 2023.
The company also announced changes to its board of directors and audit committee, appointing Nidhi Kumra as the new chair of its Audit Committee.
With its continuous growth and expansion, Nextech3D.ai is determined to become the dominant supplier of 3D models for the global eCommerce industry.
Contact the author at jon.hopkins@proactiveinvestors.com