Nextech3D.ai
Announces Its AI-Powered SaaS Platform Toggle3D
Experiences
A
+963% Jump
in Users in 60-Days Crossing Over 1000 Users
Toggle3D Gaining Traction in $160
Billion Global CAD-3D, Sees Adoption Accelerating in 2023
TORONTO, O.N,
Canada -- March 23, 2023 -- InvestorsHub NewsWire
-- Nextech3D.AI
(formally "Nextech AR
Solutions Corp" or the "Company") (OTCQX:
NEXCF) (CSE:
NTAR) (FSE: EP2), a Generative AI-Powered 3D model supplier for
Amazon, P&G, Kohls and other major e-commerce retailers is
pleased to announce its AI-powered SaaS CAD to 3D Design
Platform,
Toggle3D.ai has
crossed over 1000 sign-ups on the platform. Toggle3D.ai enables the
conversion, texturing, customizing and sharing of the highest
quality 3D models at scale, using CAD files. Since the Beta launch,
the platform has attracted a variety of users such as designers,
developers, 3D artists, entrepreneurs and creators, reaching over
1000 users on the platform within 2 months which is a +963% change
since the start of the year. The rapid adoption of this technology
positions Toggle3D.ai to become an industry leader in the
estimated
$160 Billion Global GGI Application Software
market.
Nextech3D.ai CEO Evan
Gappelberg commented, "We are thrilled to see that Toggle3D has
surpassed over 1000 sign-ups with 30% weekly growth and 963% growth
in the past 60-days, while still in BETA! This is a testament to
the hard work of our team and the value that the platform provides
to its users. With a first mover advantage and
ongoing AI enhancements we
see
Toggle3D.ai as setting
the standard as the all-in-one platform for CAD-3D model
conversion." He continued, "We are also on track for the spin-out
IPO of Toggle3D, which we expect to be completed in approximately
the next 60-days with the trading symbol being:TGGL. We firmly
believe that Toggle3D is commercially ready to disrupt the Global
CAD and Global CGI markets and once spun-out, we believe that it
will create additional value for Nextech shareholders, just as the
ARway spin-out did."
In late January, Toggle3D
officially launched the Beta Version of its web-based design studio
for converting, texturing, customizing and sharing web-friendly 3D
models. With its focus on CAD files, but also accepting other 3D
formats, the Toggle3D platform converts heavy manufacturing files
into lightweight 3D models for the web. After the conversion, users
are provided easy to use point-and-click texturing tools to add
materials to their models, change colors and add
variations.
Since the Beta launch,
the platform has attracted a variety of users such as designers,
developers, 3D artists, entrepreneurs and creators, reaching over
1000 users on the platform within 2 months. This is a +963% change
since the start of the year. Toggle3D is closely in touch with
these users, generating active early adopter involvement in
feedback, discovery of new use cases and suggestions for new
features. As more users are signing up and trying out the platform,
Toggle3D is accumulating valuable information regarding users
behavior on the platform to speed up development, reinforce
product-market fit and double down on critical pain
points.
The plans are priced at
$29/mo on a per user level meaning that multiple users in the same
team will pay for each person on the team to have an account in
Toggle3D, reinforcing the SaaS recurring revenue business model.
The users on the platform today are both free users and pro users
trying out the platform with strong signals for early growth in
conversions as the product prepares to end Beta and launch the
product in Q2 2023.
IPO
Spin-Out
In February, Nextech3D.ai
announced the details of its IPO spin-out of Toggle3D. The Company
has determined to pursue a direct spinout of its generative
AI-powered Toggle3D platform through a wholly-owned subsidiary of
the Company ("Subco"). The transaction is currently anticipated to
proceed by way of plan of arrangement (the "Arrangement") pursuant
to which the Toggle3D platform and associated assets will be spun
out into a new Subco, but will be subject to final tax and legal
structuring considerations.
The Arrangement, if
completed, is anticipated to result in, among other things, (i)
Nextech retaining approximately 65% of the issued and outstanding
shares of Subco ("Subco Shares") upon completion of the
transaction, (ii) approximately 20% of the Subco Shares being
distributed directly to Nextech shareholders on a pro rata basis;
and (iii) approximately 15% of the Subco Shares being distributed
to certain service providers of Nextech in consideration of past
services, as calculated prior to completion of the Private
Placement following which the above percentages will be adjusted on
a pro rata basis. In connection with the Arrangement, Nextech
intends to seek a direct listing of the Subco Shares on the
Canadian Securities Exchange ("CSE").
Latest Toggle3D.ai
News
About
Toggle3D.ai
Toggle3D is an AR
enhanced standalone web application which enables product
designers, 3D artists, marketing professionals and eCommerce site
owners to create, customize and publish high-quality 3D models and
experiences without any technical or 3D design knowledge required.
The Company believes that Toggle3D is the first platform of its
kind, and this break-through SaaS product is a potential game
changer for the manufacturing and design industry, as it provides a
viable solution to convert large CAD files into lightweight 3D
models at affordable prices and at scale. According to BIS
Research, the CAD market, quantified by the amount spent on the
creation of CAD files, is projected to reach $11 Billion dollars by
2023. Learn more:
https://toggle3d.ai
Top Three Competitive Advantages of Toggle 3D Versus 3D Legacy
Software
NO
Learning Curve:
What makes Toggle3D
different from the legacy 3D design software is its ease-of-use and
democratization of 3D design. The goal is for anyone with no prior
technical or 3D design experience to be able to hop into the
platform and create a high-quality 3D visual in minutes. This is
unlike legacy 3D modeling systems, that require months to truly
feel comfortable with. Users would first be required to learn and
understand the industry lingo, learn what the tools do and then
learn how to use them in the legacy software. Meanwhile, we have
streamlined this process in Toggle3D by "humanizing" 3D design
terminology, creating templates to guide creation and simplifying
the tools using machine learning to transfer the complexity out of
the user experience into the backend platform, and instead allow
more room for creativity.
Web-based:
Toggle3D is a web-based
design studio which means the user can access everything on the
browser and start designing instantly. No desktop downloads
involved, no updates to keep track of, and no system requirements
to worry about. All the templates are organized into project panels
that a user can access anywhere and seamlessly navigate between.
This is different from how legacy software was built back in the
day with the software package being broken out into multiple
desktop apps that would require the user to understand system
compatibility, download, sync, and learn
independently.
Collaboration:
Toggle3D will allow
advanced, in-app collaboration. These new sets of features will
allow multiple users to work at the same time and on the same
project resulting in quick feedback and decision making
cross-department, and team. These tools will allow businesses to
adopt 3D organization-wide and unlock the power of group iteration.
Users could set up workflows, permissions, and version history to
keep up with real-time design changes. These advanced collaboration
cycles are harder to set up in desktop apps and may sometimes slow
down or isolate the design workflow.
About
Nextech3D.ai
(formally "Nextech AR
Solutions Corp" or the "Company") (OTCQX:
NEXCF) (CSE:
NTAR) (FSE: EP2 is a diversified augmented reality, AI
technology Company that leverages proprietary artificial
intelligence (AI) to create 3D experiences for the metaverse. Its
main businesses are creating 3D WebAR photorealistic models for the
Prime Ecommerce Marketplace as well as many other online retailers.
The Company develops or acquires what it believes are disruptive
technologies and once commercialized, spins them out as stand-alone
public Companies issuing a stock dividend to shareholders while
retaining a significant ownership stake in the public
spin-out.
On October 26, 2022
Nextech3D.ai spun out its spatial computing platform, "ARway" as a
stand alone public Company. Nextech3D.ai retained a control
ownership in ARway Corp. with 13 million shares, or a 50% stake,
and distributed 4 million shares to Nextech AR Shareholders. ARway
is currently listed on the Canadian Securities Exchange (CSE:ARWY),
in USA on the (OTC: ARWYF) and Internationally on the Frankfurt
Stock Exchange (FSE: E65). ARway Corp. is disrupting the augmented
reality wayfinding market with a no-code, no beacon spatial
computing platform enabled by visual marker tracking.
On December 14, 2022
Nextech announced its second spinout of Toggle3D, an AI-powered 3D
design studio to compete with Adobe. Toggle3D is expected to be
public in the first half of 2023.
To learn more, please
follow us on
Twitter,
YouTube,
Instagram,
LinkedIn,
and
Facebook, or
visit our website:
https://www.Nextechar.com.
For further information,
please contact:
Investor Relations
Contact
Lindsay Betts
investor.relations@Nextechar.com
866-ARITIZE (274-8493)
Ext 7201
Nextech3D.ai
Evan
Gappelberg
CEO and
Director
866-ARITIZE
(274-8493)
Forward-looking
Statements
The CSE
has not reviewed and does not accept responsibility for the
adequacy or accuracy of this release.
Certain
information contained herein may constitute "forward-looking
information" under Canadian securities legislation. Generally,
forward-looking information can be identified by the use of
forward-looking terminology such as, "will be" or variations of
such 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 are incorporated by reference herein, except as
required by applicable securities laws.
