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Nextech3D.ai

Extended Reality
Product stageSegments
Growth
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Content, Location-based AR/VR
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Nextech3D.ai (formerly known as Nextech AR Solutions) is a diversified holding company operating under three main verticals: eCommerce solutions for websites, AR learning and education, and AR live streaming for events. Originally, Nextech3D.ai primarily focused on creating 3D AR photorealistic models for online retailers. However, the company has evolved into a diversified AR and AI technology company that develops or acquires companies in the space, commercializes them, and then spins them out as stand-alone public companies.

Notable features offered by Nextech3D.ai include a generative AI-backed 3D art generator. Other AI tools offered included ARitize 3D (to customize AR content) and ARitize Decorator (to view true-to-scale 3D models of AR content). In January 2024, the company announced an AI-powered 3D model search engine, which it claims increased productivity by up to 80%.

The company acquired ARway in August 2021, which was spun out in September 2022, with Nextech3D.ai retaining a 50% ownership stake. The company’s other acquisitions include that of Map Dynamics (event floor plan builder), Jolokia (virtual events webcaster), Hoot (360-degree photography software), and Threedy.ai (a digital twin creation platform).

ARway is a platform that creates AR experiences using a web-based studio, with experiences being viewable through a smartphone. Its Meta Maps solution is an indoor navigation tool that provides step-by-step directions and AR content to guide users around indoor spaces. Its Spatials solution allows users to create location-based AR content alongside Guided AR Tours.

ARway caters to several industries including stadiums and concert venues, events and tradeshows, retail, museums and galleries, hospitality, real estate, universities, and hospitals. In January 2023, ARway launched a new Image Access Point technology that uses computer vision to trigger AR experiences from brand images or logos, which the company stated would have significant revenue implications as an advertising platform. In June 2023, ARway secured a provisional patent for its "Device Localization based on Computer Vision and Visual Inertial Odometry" technology, for large-scale location persistence in indoor spaces without the need for retrofitting. In October 2023 , the company launched its AR-powered event navigation app.

The company generates revenue through monthly subscriptions (USD 249 one time payment, followed by USD 99 monthly) alongside offering white glove implementations of AR solutions, costing USD 10,000 as a one-time fee.

Key customers and partnerships

ARWay’s key customers include Amazon, P&G, Kohls, TUI Group, Restaurants Canada, Encore, and the Toronto Metropolitan University. In May 2023 , ARWay partnered with Magic Leap and Microsoft to integrate its AR navigation and wayfinding platform with the Magic Leap 2 and HoloLens respectively, expanding ARway's product usage beyond mobile phones.

Funding and financials

In November 2023, the company closed its private placement round, raising ~USD 1 million. Proceeds were earmarked for working capital and general corporate purposes.

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Key stats
Featured companies
238
Total funding (USD)
13.6 Bn
Total addressable market (USD)
100.4 Bn
Key competitors
 
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Company profile
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EDGE Insights

XR and MEP (Q4 2023): XR GenAI adoption accelerates alongside funding rebound
XR and MEP (Q1 2023): From virtual promise to metaverse hesitation

Recent Updates

Product updates
Oct 12, 2023
Nextech3D.ai launches AR-powered event mobile app for event experiences
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Funding
Jul 17, 2023
Nextech3D.ai plans to raise USD 3 million in brokered offering
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Product updates
Partnerships
May 2, 2023
NextechAR subsidiary ARway announces platform integration with Magic Leap AR glasses
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Industry news
Feb 7, 2023
AR solutions provider, Nextech AR, announces breakthrough in generative AI tech for 3D model creation
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Company Brief


HQ location:
121 Richmond St. West Suite 501 Toronto ON CAN
Founded year:
2018
Employees:
1,001-5,000
Total Funding:
USD 40.9 million
Last Funding
USD 3.0 million, Jan 2023

Funding


Funding data are powered by Crunchbase
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