Nextech AR Solutions Acquires 3D AI Modeling For E-commerce Company Threedy.ai, Inc.

Acquires scalable 3D model creation platform powered by artificial intelligence

Self-serve web AR enabled platform to drive mass adoption

Nextech AR Solutions Corp. a diversified leading provider of augmented reality (“AR”) experience technologies and services, is pleased to announce that it has acquired previously announced Threedy.ai, Inc. (“Threedy”), an artificial intelligence (“AI”) company based in Silicon Valley, California, in an all-stock transaction valued at US$9,500,000. A definitive agreement has been signed by all parties with closing expected on or about June 25, 2021, upon satisfaction of customary closing conditions. Nextech’s acquisition strategy is focused on creating net new revenue opportunities that scale with the global adoption of AR.

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“By combining Threedy’s disruptive AI technology and our leading AR platform, we have just changed the game,” commented Evan Gappelberg, Founder and CEO of Nextech. “With our integrated platform powered by AI, users can quickly transform 2D objects into AR enabled 3D, while removing the friction that currently exists within the customer value chain. Simply – one will be able to take a photo, convert it to a high-resolution 3D image within minutes and have that item displayed on a phone or device in augmented reality in webAR. This a true a game changer for e-commerce businesses and product manufacturers alike, and for the more than 100 million and growing consumers shopping with AR online and in stores today who are driving the mass adoption of augmented reality in everyday life.”

“Retailers including Kohl’s, Pier1 and K-Mart Australia are already using Threedy’s technology to offer AR shopping experiences at scale and now together with Nextech we will create a unified, scalable 3D content creation engine for all our AR solutions,” commented Nima Sarshar, CEO of Threedy. “Threedy has created AI-powered tools that take 3D content creation for AR and other applications from a craft-production process to mass-production. It takes several hours for a typical 3D artist to create a 3D replica of a physical product. Content creation has long been the bottleneck for bringing AR to large retailers, many of whom have thousands of SKUs live at any given time. Using our virtual assembly line technology, thousands of models can be created per week, with minimal human intervention, in many categories.”

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