Nextech3D.AI (CSE:NTAR, OTCQX:NEXCF) said it has established Nextech3D Solutions India Private Limited as it moves to the high-scale production of its generative AI-powered 3D models.
The company, which supplies Amazon, P&G, Kohls and other major e-commerce retailers, said it expects the strategic move to increase profitability and reduce labor costs starting in the fourth quarter of 2023.
Nextech noted that it is gearing up for a record 3Q and 4Q and record 3D model growth in 2024 as it prioritizes large enterprise clients who demand thousands of models and high-scale production, transitioning away from small e-commerce clients that require a limited number of 3D models.
This strategic shift is expected to bolster the revenue streams, generate significant additional cashflow by optimizing production processes and taking advantage of cost-effective resources in the region, and contribute significantly to its overall growth and financial stability, the company added.
“The move to India is expected to generate significant additional cash flow for NextechrD.ai by optimizing production processes and taking advantage of cost-effective resources in the region,” Nextech commented in a statement.
“With these initiatives and others, the company is positioning itself for enhanced profitability for years to come in a rapidly evolving market. This strategic shift aligns perfectly with Nextech3D.AI (CSE:NTAR, OTCQX:NEXCF) commitment to delivering top-tier 3D modeling and augmented reality solutions while maintaining a keen eye on profitability and fiscal responsibility for its valued shareholders.”
Nextech said Hareesh Achi, the former Microsoft and Meta executive who was recently appointed to manage the company’s 3D model productivity, will lead the establishment of Nextech3D Solutions India.
It noted that Achi's vast experience in the tech industry and his proven track record of driving productivity and innovation make him the perfect candidate to lead the “transformative initiative.”
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