Nextech3D.ai Establishes Nextech3D Solutions India Private Limited As It Moves to High Scale 3D Model Production Ahead of Record Demand
Martech Outlook | Tuesday, September 19, 2023
TORONTO - 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 that the Company is moving to high scale production and in preparation it has established Nextech3D Solutions India Private Limited, which is anticipated to increase profitability and reduce labor costs starting in Q4, 2023. This strategic transition is anticipated to reduce expenses and significantly enhance the Company's profitability and performance as it rolls out its AI solution. The Company is gearing up for a record Q3 and Q4 and record 3D model growth in 2024. The Company is now exclusively focused on high-scale production for its 3D modeling business with Amazon and other enterprise accounts.
The Company has transitioned away from small e-commerce clients that require a limited number of 3D models and is instead prioritizing large enterprise clients who demand thousands of models and high-scale production. This strategic shift is expected to bolster the Company's revenue streams and contribute significantly to its overall growth and financial stability.
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As recently announced, Nextech3D.ai hired former Microsoft and Meta Exec Hareesh Achi to manage its 3D model productivity. Achi will lead establishing Nextech3D Solutions India Private Limited which will enhance overall performance and profitability for Nextech3D.ai. The focus on high-scale production and cost savings by setting up operations in India will result in growing profit margins for the Company and improve operational efficiencies. Mr. Achi's vast experience in the tech industry and his proven track record of driving productivity and innovation make him the perfect candidate to lead this transformative initiative.
The move to India is expected to generate significant additional cash flow for Nextech3D.ai by optimizing production processes and taking advantage of cost-effective resources in the region. With these initiatives and others, the Company is positioning itself for enhanced profitability for years to come in a rapidly evolving market. This strategic shift aligns perfectly with Nextech3D.ai's commitment to delivering top-tier 3D modeling and augmented reality solutions while maintaining a keen eye on profitability and fiscal responsibility for its valued shareholders.
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