Nextech3D.AI (CSE:NTAR, OTCQX:NEXCF) announced it has inked an enterprise 3D modelling contract with Kabbani Furniture, a major furniture retailer in Egypt.
The news sent Nextech's stock higher late morning on Tuesday, adding 14.9% at US$0.13.
With its generative artificial intelligence (genAI) technology, the company is able to create photo-realistic 4K 3D models catering to the needs of online retailers.
It said Kabbani Furniture’s initial purchase order is for 500 3D models, a small fraction of its total stock-keeping units (SKUs).
Considered the top furniture manufacturer and retailer in Egypt, Kabbani Furniture has four branches, 18 sub-branches, and seven factors. It employs more than 2,000 people in seven different governorates.
The deal represents a significant growth opportunity for Nextech3D.AI (CSE:NTAR, OTCQX:NEXCF) because there is the potential to grow with Kabbani’s large network of retailers, the company highlighted.
Nextech3D.AI (CSE:NTAR, OTCQX:NEXCF) is a versatile augmented reality and AI technology company that utilizes its proprietary AI to craft immersive 3D experiences at scale for e-commerce.
- Updated with share price movement and video -
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