Artificial Intelligence
Nextech AR is Seeing a Dramatic Increase in 3D Model Demand in Q4 2022 and FY 2023
TORONTO, Oct. 12, 2022 (GLOBE NEWSWIRE) — via InvestorWire — Nextech AR Solutions Corp. (“Nextech” or the “Company”) (OTCQB: NEXCF) (CSE: NTAR) (FSE: N29), a Metaverse Company and leading provider of augmented reality (“AR”) experience technologies and 3D model services is pleased to announce the closing of multiple new 3D modeling deals for ecommerce, providing the Company with a rapidly growing base of ARR (annual recurring revenue) and MRR (monthly recurring revenue). The Company is experiencing rapidly accelerating demand for its state-of-the-art AI-powered ARitize 3D technologies. In addition, Map D has signed on with a number of event providers, furthering Nextech’s reach into the event technology space.
Nextech AR CEO Evan Gappelberg commented, “We are in negotiations for a record number of contracts with the biggest names in ecommerce for 3D models that total hundreds of thousands of 3D models with delivery dates starting in 2022 Q4 extended into 2023, which is unprecedented. We see an acceleration of demand for our entire suite of Web3 products. We are simultaneously signing on new clients to ARitize 3D, expanding into new industries, while renewing with existing clients for more 3D models. Our 3D/AR product offering is now being recognized as providing a game changing ROI for the global ecommerce ecosystem.” He continued, “Over the past four years but especially in the past eighteen months we have positioned ourselves as the lowest cost, most scalable and highest quality 3D model provider by leveraging our AI and ML technologies which are patent pending. We believe 3D models are now accepted as the standard in e-commerce. 3D models are estimated to have a TAM of $100 billion which is going to keep us very busy producing 3D models for the foreseeable future.”
Winning new contracts, combined with renewals and expansion of existing contracts is driving the rapid growth for the Company’s 3D model and augmented reality business in ecommerce. Nextech is pleased to see growth in the following industries:
Clothing
Nextech has signed a contract with Vaqra, a unique online fashion retailer to create 3D models of their top-selling fashions, highlighting how innovative 3D modelling can be for clothing.
Electronics
Vu3D Tours, an immersive technology experiences provider, has signed with Nextech to provide 3D models for laptops, TVs, phones, etc., showcasing Nextech’s ability to provide high-quality models for complicated electronics with small components.
Outdoor Furniture / Equipment
Continually expanding on the outdoor furniture and equipment 3D modelling, Nextech has signed with Bunnings, a large Australian hardware retailer, to do 3D models of BBQs along with a variety of other SKUs; Everdure by Heston Blumenthal has contracted for SKUs of their top-line BBQs; Ezooza, an Italian outdoor home goods store, has renewed for a large number of SKUs; North by North, a bamboo furniture manufacturer, has renewed their contract with Nextech for additional SKUs. Nextech is seeing definite growth in this category with new and renewal business.
Furniture
Office Group, an office furniture retailer in South Africa, has renewed their contract for 3D models with Nextech.
Specialty Items
As Good As Gold Australia has contracted with Nextech for 3D models of gold bars. Another new and unique contract is for a 3D model of a meteorite with Top Meteorite, showcasing the complexity and details that Nextech’s 3D models are able to provide. A premier provider of fans, Vornado, has also signed on for additional 3D model SKUs. William Wood Mirrors, a specialty UK mirror manufacturer, has increased its contract for complex mirror SKUs with Nextech, in order to meet increased demand in their specialty market.
Sports Equipment
Nextech has signed a renewal 3D modelling deal with City Grounds, a bicycle retailer, for additional SKUs – 5 SKUs. This follows multiple sports-related ARitize 3D deals, including MGI Golf, Marketer Deutschland, Head, Himibike, Salamander Paddle Gear, Never Summer, The Perfect Mound, Source for Sports, Joyride Bikes and others.
Lighting
Artika, an online retailer of home lighting solutions, has renewed a monthly subscription for 3D models, contributing to Nextech’s MRR. This signing follows Nextech’s previous announcement of Lighting Plus extending their original contract for more 3D SKUs, reflecting increasing demand and positive ROI in the lighting market for 3D models.
Partner Agencies
Nextech expanded its reach and partners with marketing and other agencies to provide models for 3rd party clients. The latest signing in this area is with Indonesia’s leading ecommerce enabler for a variety of SKUs for their clients, reflecting the growing demand for 3D models worldwide. These signings highlight that more and more retailers are asking for 3D models in the ecommerce space, and their marketing agencies are reaching out to Nextech for solutions for their clients.
Map D
Nextech AR’s self-serve event management software solution, Map D, has seen rapid growth in new and renewal business in the event space. Recently, Map D has contracted with the following events:
- Rampartcorp – Range Day 2023
- Texas ASLA 2023 Annual Conference
- Uniform Retailers Association (URA) – URA 17th Annual Trade Show
- 59th Piedmont Craftsmen’s Fair
- American Tradeshow Services (ATS) – 2023 Equity & IBD Event
- Florida Library Association 2023 Annual Conference
- Tradeshow Logic – AHA Rural Health Care 2023
- New England Cannabis Conventions (NECC)
- Red River Valley Fair 2023
- Love Run Philadelphia Health & Fitness Expo 2023
- Temecula Valley Balloon and Wine Festival 2023
- Cowtown 2023
- Iowa Communications Alliance – 2023 Annual Meeting & Expo
- MN, TN, WI Podiatric Medical Associations – 2023 WPMA Annual Scientific Conference, 2023 TPMA Annual Scientific Conference, and the 2023 Twin Cities Foot & Ankle Conference
- 2023 NAEP Annual Meeting
- St. Thomas Home Show 2023
- Michigan Municipal League – CapCon 2023 Annual Expo
- American Academy of Physical Medicine and Rehabilitation (AAPM&R) – 2023 AAPM&R Job and Fellowship Fair
- Home Builders Association of Western Michigan – Home & Garden Show 2023
- Independent Insurance Agents and Brokers of South Carolina (IIABSC) – IIABSC 2022 Annual Conference
These events are just a small sampling of the large number of contracts that Map D has signed in the event space in September and October 2022. The Company believes that with that Map D will continue to gain traction and expand into the event space, especially with the most recent integration of ARway’s spatial computing technology for wayfinding.
About ARitize 3D
ARitize 3D is your one-stop-shop AR solution with automated 3D model creation at an unbeatable price. Our Artificial Intelligence (AI) will turn your existing 2D product images into high-quality 3D and Augmented Reality experiences. It’s fast, it’s easy and it will transform your ecommerce website.
With a 3D model, clients can interact with the product to see every detail with a 3D model: turn it, spin it, zoom in, zoom out, leading to 40% lower product returns, 93% higher click through rate and a 90% reduction in product photography costs. The Company believes that this value creation and ROI is leading to the rapidly growing demand for the Company’s 3D technology. Transform your online store into a dynamic virtual showroom. 3D models allow customers to see products from every angle and position them in their own space prior to purchasing. It’s an exciting, immersive shopping experience that keeps customers more engaged, better informed and helps your brand stand out from the competition.
ARitize 3D is the One-Stop-Shop 3D + AR solution for ecommerce that is:
- Affordable – lowest cost provider
- Scalable – fastest, seamless , high quality
- Frictionless – requires low implementation effort
- AI & ML powered – automated 3D model creation
- End to End – from model creation to CMS & AR visualization
About Map D
Map D is a self-serve event management software solution. Map D provides clients with an extensive set of features and tools for managing almost any kind of event you can imagine. Whether someone is looking for an easy way to sell floor plan space or services at trade shows, expos, or festivals or to manage speaker and schedule details during conferences or meetings, Map D does it all and updates in real time to make it easier to communicate with event goers. Map D is a tool that makes an event manager’s job easier by automating or crowd sourcing complicated logistics while simplifying the sales processes and adding new revenue opportunities. Most clients spend 2-4 hours on setting up their event in Map D, then the rest is automated so they can sit back and collect sales, or point event participants to a single web address for all the information they may need. Map D also can provide a companion native mobile app which in the future will double as a AR wayfinding app, for in-person events or serve as a self-contained virtual venue for attendees, exhibitors, sponsors, speakers, or anyone else participating in an event.
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
[email protected]
866-ARITIZE (274-8493) Ext 7201
Nextech AR Solutions Corp.
Evan Gappelberg
CEO and Director
866-ARITIZE (274-8493)
About Nextech AR
Nextech AR Solutions is the engine accelerating the growth of the Metaverse. Using breakthrough AI, Nextech AR is able to quickly, easily and affordably ARitize (transform) vast quantities and varieties of existing assets at scale making products, people and places ready for interactive 3D use, giving creators at every level all the essential tools they need to build out their digital AR vision in the Metaverse. Our platform agnostic tools allow brands, educators, students, manufacturers, creators, and technologists to create immersive, interactive and the most photo-realistic 3D assets and digital environments, compose AR experiences, and publish them omnichannel. With a full suite of end-to-end AR solutions in 3D Commerce, Education, Events, and Industrial Manufacturing, Nextech AR is in a unique position to meet the needs of the world’s biggest brands and all Metaverse contributors.
Nextech funds the development of its AR and Metaverse growth initiatives through its e-Commerce platforms, which currently generate most of its revenue. Nextech’s e-commerce platforms include: vacuumcleanermarket.com (“VCM”), infinitepetlife.com (“IPL”) and Trulyfesupplements.com (“TruLyfe”). VCM and product sales of residential vacuums, supplies and parts, and small home appliances sold on Amazon. These e-commerce platforms serve as an incubator for developing and testing Nextech’s leading edge AR, AI and machine learning applications for powering next-generation e-commerce technology.
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.
Wire Service Contact:
InvestorWire (IW)
Los Angeles, California
www.InvestorWire.com
212.418.1217 Office
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GOTHENBURG, Sweden, July 5, 2024 /PRNewswire/ — A new agreement has been signed between Viking Analytics and Bharat Forge Kilsta (BFK) from Karlskoga. The agreement, which is for three years, provides BFK with the AI-based optimization tool “Smartforge” after a 10-month implementation phase. Smartforge optimizes the forging process, primarily in the critical heat keeping process where the problems with scrap are greatest. The goal is to reduce discarded products by 50% and contribute to energy savings and a more environmentally friendly production.
Niclas Undén, CFO of Bharat Forge Kilsta, comments on the deal: “Through AI technology, a difficult step in the forging process is simplified. The result is lower scrap, lower energy consumption and reduced need for manual work. In SmartForge, Swedish heavy automotive industry meets world-leading AI technology from Viking Analytics. Bharat Forge Kilsta is very pleased with the collaboration with Viking Analytics, and we look forward to a deeper collaboration in the coming years.”
The majority of Bharat Forge’s customers are in the automotive industry and the value of this agreement exceeds SEK 4 million for both Viking Analytics and Bharat Forge.
Stefan Lagerkvist, COO at Viking Analytics: “This agreement is much more than a single business opportunity. Bharat forge has a lot of expertise in steel and forging, which contributes strongly to the solution. Their knowledge has been captured and translated into algorithms for better control of the process. This collaboration confirms everything we so long have been fighting for and gives us a great opportunity in the future to offer an environmentally friendly AI-powered solution to more factories within the Bharat Forge Group as well as to other players in the industry!”
Viking Analytics
Strong in predictive maintenance and smart industrial optimization
Since 2017 the Swedish company Viking Analytics has been at the forefront of revolutionizing the maintenance process for OEMs, maintenance companies and industries. Their commitment to predictive maintenance, smart automation, optimization, and data analytics is evident in their specialized software tool MultiViz, which enables industries to operate, monitor, and understand their machines with unparalleled precision and efficiency. Vibration analysis is a major focus area, but a lot of customized AI solutions are also provided.
Bharat Forge Kilsta
Forgings for the automotive industry
Bharat Forge Kilsta manufactures forged and machined components for the automotive industry. The company’s most important customers are truck manufacturers in Sweden and internationally. Bharat Forge Kilsta is part of the Bharat Forge Group, which is the world’s largest forging group and is headquartered in India. Bharat Forge Kilsta has an annual turnover of SEK 1.3 billion and 320 employees. The Swedish company is located in Karlskoga – the city in Eastern Värmland that is known for its high-tech, and internationally oriented, industrial companies.
CONTACT:
[email protected]
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Artificial Intelligence
CapitaLand Investment launches research paper on ‘Asia Pacific Data Centre Investment Strategies in the Age of Digitalisation’
Strong secular tailwinds drive investors’ interest in the region’s sector
SINGAPORE, July 5, 2024 /PRNewswire/ — CapitaLand Investment (CLI) has launched its latest research paper on investment strategies for Asia Pacific’s (APAC) data centre (DC) industry as part of its ‘Perspectives’ research series. Leveraging insights from CLI’s expertise on the ground, the research paper highlights the demand drivers behind the rapid growth of DCs in the region and strategic investment considerations for investors. The paper also includes a case study on navigating India’s DC sector.
Ms Michelle Lee, CLI’s Managing Director, Private Funds (Data Centre), said: “Digitalisation is a global mega trend driving the growth of data centres. With the DC sector’s strong secular tailwinds, 97% of institutional investors plan to increase their capital allocation into the sector1, particularly in Asia Pacific. As DCs are more resilient, allocation to this asset class can be an integral part of investors’ portfolio diversification strategy.”
“CLI has accelerated our growth in the DC sector, adding 22 DCs since 2021. Today, we have 27 DCs with about US$4.5 billion assets under management and more than 800 megawatts (MW) in gross power across eight countries globally2. CLI has vertically integrated DC capabilities spanning across design, development, sales, and operations. With DC domain capabilities, combined with our deep market knowledge, deal-sourcing and investment network in Asia, we are well-positioned to partner with investors to tap into the wealth of opportunities in the sector,” added Ms Lee.
APAC as a strong growth market
While cloud computing has been the primary driver for DC demand, the rise of artificial intelligence (AI) is now fuelling a more explosive growth. The revolution in the scale at which data is being used and managed is fundamentally a global phenomenon, but nowhere is it unfolding as rapidly as in APAC markets. On population per MW basis, APAC markets are underserved compared to regions such as EMEA and North America3.
APAC economies are not only growing faster, the region’s enormous population and swelling internet user base also cement its status as a highly attractive destination for DC investment. Its internet user base has grown seven-fold since 2005, compared to the growth of 1.9 times in the Americas and 1.8 times in Europe over the same period4. Going forward, APAC markets should continue to lead, as internet adoption further increases given the lower penetration rates in the region.
DC transactions in APAC rose about 2.4 times to approximately US$22 billion from 2019 to 2023, compared to the preceding five years, even as markets generally stagnated during the COVID-19 pandemic5.
While hyperscalers continue to drive DC demand, APAC colocation market is also expected to double in size to US$52 billion by 20266, becoming the world’s largest colocation DC market.
Key DC markets in APAC
Tokyo, Osaka, Seoul, Singapore and Sydney are key developed DC markets in APAC7. These markets have achieved scale and are important DC hubs in the region.
Beijing and Shanghai also show promise due to China’s large population, growing digital services sectors, strong government support, and robust long-term economic prospects.
Increasing demand for DCs in India
Highlighting India as a hotspot for DC investment, Mr Sanjeev Dasgupta, CLI’s CEO for India, said: “India’s DC industry has seen increasing interest from institutional investors and has a long runway for further growth. India has the world’s second highest number of mobile subscribers and one of the fastest growing data consumption per user rates. The government’s digitalisation drive, data localisation regulation as well as the growth of cloud and AI will generate more demand for DC capacity. With CLI’s 30 years of experience in India, we have the capabilities and a deep understanding of the local market. We have a dedicated team of DC experts in India and are currently developing four DCs across the key markets of Mumbai, Bengaluru, Chennai and Hyderabad with a total gross power of 244 MW.”
The seven major cities in India – Mumbai, Bengaluru, Chennai, Hyderabad, Delhi NCR, Pune, and Kolkata – are the focal points for new DC development, offering strategic locations with proximity to key business centres. Mumbai stands out as the preeminent hub, hosting more than half of the country’s DC capacity8 with the other major cities mentioned developing strongly.
Opportunities and strategic considerations
Different DC models offer a spectrum of options for investors, catering to different preferences and risk appetites. However, the lack of stabilised DCs available for sale in APAC means the most promising opportunities for investors lie in developing new DCs – a strategy that can both satisfy new demand and yield higher returns.
Power availability has taken centre stage as a crucial determinant for DC locations. There is also a growing emphasis on sustainability. Increasingly, DC users and savvy operators are seeking to reduce their carbon footprints by being more energy-efficient and tapping renewable energy sources.
Investors should also be mindful of the geopolitical, regulatory and technological risks associated with DC investments. It is therefore crucial for investors to collaborate with DC partners who have a strong network, local expertise, and specialist domain knowledge.
To read the full research paper on DC investment strategies in APAC, visit: https://www.capitaland.com/global/en/about-capitaland/newsroom/Perspectives/2024/Apac_Data_Centre_Investment_Strategies_Age_of_Digitisation.html
Launched in 2022, Perspectives is CLI’s series of thematic and topical research reports aimed at providing proprietary insights on real asset investment trends and strategies, private equity developments, macroeconomy and markets. For more, visit:https://www.capitaland.com/en/investment/news-and-events/perspectives.html
[1] 2024 Global Data Centre Investor Sentiment Survey, CBRE.
[2] Includes data centres in operation and under development.
[3] The World Bank, United Nations, CBRE, CLI PERA Research, June 2024.
[4] ITU World Communication, CLI PERA Research, June 2024.
[5] MSCI, Real Capital Analytics, CLI PERA Research, June 2024.
[6] CBRE, CLI PERA Research, June 2024.
[7] CBRE, Cushman & Wakefield, DC Byte, CLI PERA Research, June 2024.
[8] Avendus, “DCs: Powering Digital India”, May 2023, DC Byte, CLI PERA Research, June 2024.
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Artificial Intelligence
Securden Recognized as a Market Leader in GigaOm Radar Report for Enterprise Password Management
Securden has become a leader and an outperformer with cutting-edge features, rapid market advancements, and consistent customer value.
WILMINGTON, Del., July 4, 2024 /PRNewswire/ — Securden, Inc., a leading provider of privileged access and identity security solutions, today announced that it has been recognized as a leader and outperformer in GigaOm Radar Report for Enterprise Password Management.
GigaOm rigorously evaluates vendors in various solution segments and produces Radar reports with valuable insights to assist enterprise decision-makers in evaluating and investing in solutions.
The GigaOm Radar 2024 on Enterprise Password Management examined 13 enterprise password management solutions. “Securden is positioned in the innovation quadrant. It offers a strong solution, and its approach is to take its customers on a journey to broader PAM, with password management simply one focus area. It scored well across all of the decision criteria we evaluated, placing it as a leader, and its execution of the emerging features and rate of progress in the market classify it as an Outperformer,” states the report.
Securden has earned top ratings in key evaluation criteria, including platform security, security auditing, PAM capabilities, ease of management, ease of use, and scalability.
“We are proud to be recognized as a market leader in Enterprise Password Management by GigaOm Radar,” said Bala Venkatramani, CEO of Securden, Inc. “Protecting various identities used by humans and machines is a top priority for IT teams. Our platform offers a comprehensive privileged identity security solution, witnessing rapid adoption by SMBs and Enterprises globally. With innovation at the core, we are committed to offering simplicity and affordability in cybersecurity. This recognition affirms our strong market presence and our focus on providing powerful capabilities to strengthen our customers’ security posture.”
Securden offers robust protection for the vault with controls like access hardening, resilient deployment, and strong data protection approaches. It offers insights into password usage, identifies poor practices, flags failure to follow password standards, issues breach warnings identifying compromised passwords, and more. These measures significantly help reduce password-related risks.
Streak of Recognition
EMA Research, a top industry analyst firm, recently published an impact brief recognizing the Securden Unified PAM MSP platform as a groundbreaking development in privileged access management for MSPs. “By eliminating the need for disparate PAM solutions and providing comprehensive functionality within a single package, Securden empowers MSPs to deliver robust, scalable, and secure PAM services to their clients with unparalleled efficiency and confidence,” states the impact brief.
About Securden
Securden provides leading privileged access governance and identity security solutions that uniquely combine critical security principles to prevent cyberattacks, malware propagation and insider exploitation. With products designed for security and scalability (Password Vault for Enterprises, Unified PAM, Endpoint Privilege Manager, and Unified PAM MSP), Securden is trusted by organizations worldwide, including large financial institutions, government agencies, healthcare organizations, educational institutions, IT service providers, MSPs, and manufacturing companies. For more information, visit https://www.securden.com.
Media ContactJames [email protected]
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