Nextech AR Solutions Corp. (NTAR.C), a pioneer in augmented reality (AR) and AI technologies, announced a significant strategic milestone on June 14, 2023. The firm has secured court approval to spin off its groundbreaking subsidiary, Toggle3D.ai, in an initiative designed to create substantial shareholder value and drive forward technological innovation in the 3D design space.
Trading on the Canadian Securities Exchange (CSE) under the ticker symbol TGGL, Toggle3D.ai will operate as a stand-alone public entity. This move follows the company’s successful spinout of ARway.ai in October 2022, indicating Nextech’s proficiency in fostering thriving, independent ventures from its suite of cutting-edge technologies.
As part of the arrangement, Nextech shareholders will receive four million shares in Toggle3D.ai as a stock dividend, while Nextech itself will retain a commanding 50% ownership stake in the new public entity. This means that Nextech continues to be closely aligned with Toggle3D.ai’s future success, reinforcing the symbiotic relationship between the parent company and its offshoot.
What Is Toggle3D.ai?
Toggle3D.ai is a pioneering software-as-a-service solution using generative artificial intelligence. It transforms CAD files into 4K 3-D models, pushing the boundaries of the $160-billion computer-generated image market. Its web-based app allows individuals with varied expertise levels to effortlessly convert, texture, and publish high-quality 3-D models.
Unlike traditional 3D design software, Toggle3D.ai eliminates the learning curve, making 3D design universally accessible. It transforms complex terminologies into intuitive design language and incorporates machine learning to make the tools user-friendly.
Furthermore, its web-based structure allows users instant access without the need for downloads or updates, making it an efficient tool for real-time collaboration and cross-department coordination. This ease of use propels 3D design to an organization-wide level, optimizing workflows and facilitating group iteration.
Nextech AR Solutions’ Innovation-Centric Model
Nextech AR Solutions stands as an icon in the realm of augmented reality and AI technologies. The company leverages its artificial intelligence prowess to create immersive 3D experiences for the burgeoning metaverse. It primarily serves e-commerce platforms and various online retailers by crafting photorealistic 3D models.
The company’s strategy involves incubating disruptive technologies and spinning them off as independent public entities once commercialized. This innovative approach maximizes shareholder value, creates diverse investment opportunities, and advances technological development.
As Toggle3D.ai prepares to extend its reach to the Frankfurt and OTC markets, it symbolizes yet another feather in Nextech AR Solutions’ cap, demonstrating the company’s commitment to pushing the boundaries of what’s possible in the tech industry.
Looking ahead, investors, stakeholders, and the tech world at large will watch with anticipation as Toggle3D.ai charts its independent course, delivering on its promise to revolutionize 3D design and stake its claim in the ever-evolving digital world.