Vancouver, British Columbia–(BUSINESS WIRE)–Nextech AR Solutions Corp. (“Nextech” or the “Company”) (OTCQB: NEXCF) (NEO: NTAR) (CSE: NTAR) (FSE: N29), a Metaverse company and leading provider of augmented reality experience technologies and services (“ AR”) is pleased to announce that it has received a first order and signed a partnership agreement with the technology platform and the B2B market Designer Inc. The deal will rely on Nextech Learn CAD 3D modeling solution for furniture manufacturers, creating scale 3D models from CAD files. This B2B partnership represents a substantial MRR (monthly recurring revenue) opportunity for Nextech, as it leverages its breakthrough technology Learn CAD solution and virtual showroom ARitize Decorator to DesignerInc’s network of over 1,500 furniture manufacturers, representing potential demand for hundreds of thousands of 3D models.
DesignerInc serves the B2B interior design industry, providing a one-stop destination where designers source custom and in-stock furniture and décor, obtain quotes, and buy from over 1,500 specialty manufacturers. Through this partnership, Nextech joins DesignerInc’s vast network of 1,500 commercial furniture manufacturers, offering 3D models, AR visualizations and Nextech’s innovative solutions. ARitize Decorator for use in the design industry landscape.
Beyond 3D models, Nextech’s innovation ARitize Decorator The technology showcases 3D models in a virtual showroom created by Nextech for DesignerInc’s top vendors. This virtual showroom technology optimizes the sale of furniture products and offers DesignerInc’s supplier partners the ability to work directly with Nextech for 3D/AR models and e-commerce studio products including; configurator, virtual staging environments, and even 3D swirl ads on Facebook and SNAP offering a true end-to-end partner solution for all things 3D in e-commerce.
Marisa Terrizzi, Chief Strategy Officer of DesignerInc comments, “In partnership with Nextech, DesignerInc continues to innovate by creating technology solutions that drive the interior design industry forward. Our alliance with Nextech complements DesignerInc’s forward-looking approach, supporting the long-term strategies of our Gilded Circle vendor partners by delivering 3D AR models and virtual showroom environments, at scale. Together, we are moving our industry into Web 3.0 through rapid, AI-driven execution of virtual and metaversal models and environments, improving interior design processes and refining execution pathways. With the launch of DI Pro Project Management in Q2, we’re giving our community of Gilded Circle designers a suite of must-have tools to quickly close the sales loop through real-time visual interaction with their customer base.
Evan Gappelberg, CEO of Nextech AR commented, “We are delighted to have the opportunity to work with DesignerInc, a B2B company that recognizes the benefits of 3D/AR models for the supply and demand side of the design industry. We believe this agreement has the potential to significantly grow our 3D modeling business and impact our MRR revenue, as it will provide direct access to DesignerInc’s network of over 1,500 manufacturers.” He keeps on“We are experiencing rapidly growing global demand for 3D/AR models, and with partnership agreements like this, we are strengthening our business as we strive to achieve our ambitious goal of becoming the premier 3D modeling factory in the world.”
Nextech has seen strong and growing demand from multiple market sectors, including e-commerce companies looking to create large-scale 3D models, and manufacturers needing to transform CAD files into POLY files. The company reported that demand was increasing rapidly and announced that it signing of several ARitize CAD agreements since the start of 2022. The company believes that with its two AI-powered engines ARitize 3D for e-commerce and Learn CAD its 3D solution for manufacturers, that it has a major competitive advantage and that it is rapidly gaining market share.
About Nextech CAD Technology
Nextech Learn CAD is a game changer for the manufacturing industry, providing a viable solution for converting large CAD files into lightweight, optimized 3D meshes that are suitable for 3D and AR applications. With this technology, manufacturers can produce high-quality 3D/AR models at affordable prices and at scale. CAD is a function of product engineering. Industrial designers, working for product manufacturers, use CAD software like AutoCAD and SolidWorks to design many products in the modern world. CAD is a great use case for furniture makers, and using Nextech’s Learn CAD solution, CAD files of furniture designs can be converted into high-quality, photorealistic, fully textured 3D/AR models.
In addition to creating 3D models from CAD files using Learn CAD, manufacturers will also have the ability to enhance their 3D models with Nextech’s market-leading suite of solutions. These enhancements include changing color and texture, animating parts of the 3D model to include movement, exploded views of the model to showcase all of its individual parts, and more. These enhancements provide a unique advantage to companies using this technology to showcase their products over their competitors, resulting in the rapid adoption of this technology.
About Designer Inc.
DesignerInc’s vertical technology platform enables US and Canadian interior designers, architects and design firms to work efficiently, sourcing materials and furnishings from suppliers around the world. As the leading B2B platform powering the interior design industry, DesignerInc serves as an exclusive business tool – including a marketplace, instant shipping quotes, and a virtual marketplace each spring and fall showcasing new introductions and special events. Verified designers source 24/7, maximizing productivity with fast and efficient quote processing, instant access to over 1,500 manufacturers, and support from a proven concierge team that works in close collaboration with designers on project management – from procurement to logistics and claims. DesignerInc Golden Circle™ VIP Members, its community of designers and makers, supercharge their workflow using DI’s powerful technology suite, generous loyalty program benefits and DI Pro, DesignerInc’s robust project management suite launched in Q2 2022. To learn more, visit https://www.designerinc.com/
About Nextech AR
Nextech AR Solutions is a Metaverse company that develops and operates Augmented Reality (“AR”) platforms, bringing three-dimensional (“3D”) product visualizations, human holograms and 360° portals to its audiences, modifying e-commerce, digital advertising, hybrid virtual events (events held in a digital format combined with in-person participation) and learning and training experiences.
Nextech is focused on developing AR solutions for the Metaverse, but most of the company’s revenue comes from three e-commerce platforms: vacuumcleanermarket.com (“VCM”), Infinitypetlife.com (“IPL”) and Trulyfesupplements .com (“TruLyfe”). VCM and sale of residential vacuum products, supplies and parts, and small appliances sold on Amazon.
CSE and NEO have not reviewed and accept no responsibility for the adequacy or accuracy of this release.
Certain information contained herein may constitute “forward-looking information” under Canadian securities laws. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “will” or variations of these words and phrases or statements that certain actions, events or results “will” occur. Forward-looking statements regarding the completion of the transaction are subject to known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove to be accurate, as future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Nextech will not update any forward-looking statements or forward-looking information that is incorporated by reference herein, except as required by applicable securities laws.