ARway.ai (CSE:ARWY, OTCQB:ARWYF) has launched a major update to its spatial computing platform for augmented reality navigation and immersive experiences, its third major release in 2024 which it said marks “dramatic improvements in indoor navigation and mapping.”
Investors welcomed the news, with ARway.ai (CSE:ARWY, OTCQB:ARWYF)'s US-listed shares surging almost 35% to US$0.22 while its Canadian-listed shares were up 6.8% at C$0.24 in the early afternoon on Tuesday.
ARway.ai's new V3.1 includes improvements to the range and accuracy of AR experiences across large-scale venues and faster deployment of AR indoor navigation experiences, which ARway.ai (CSE:ARWY, OTCQB:ARWYF) believes will drive additional deployments and revenue.
The upgrade supports navigation range up to 600 meters after a single scan and improved route guidance automatically redirects users back to the correct route if they stray.
There is also a new Mini Map feature that offers a real-time preview of the navigation route for improved visitor orientation.
For ARway.ai creators, a network failure backup flow has been added and there have been upgrades to Web Studio 3D Map UX, including a Color-Changing Path Guide for precise path alignment and new controls for easier map editing.
“The impact of ARway V3.1 extends beyond the platform itself, offering unprecedented opportunities for scaling location-based AR deployments at scale,” the company said.
“These new features unlock new possibilities for creating more compelling, customized AR experiences, fostering new business opportunities, and driving growth in the global indoor positioning and navigation market.”
ARway.ai highlighted that it currently has more than 5,000 total accounts, with 5,400-plus maps created with 60-plus pilots and trials.
It said global demand for its platform is accelerating for various use cases and industries looking to leverage its AR and spatial computing technology.
- Updated with share price movement -