The Digital Transformation Company Providing Critical AR Solutions at Scale
July 27, 2021
One of the most exciting growth markets to keep an eye on, is Augmented Reality (AR) and Virtual Reality (VR). Nextech is focusing on the AR of it all, providing the market with unique, scalable solutions that are designed to dramatically impact the bottom line. The AR/VR market is expected to grow to $72.2B by 2024, and we think Nextech is going to grow right along with it.
While Augmented Reality is often used as a novelty, Nextech’s innovative, end-to-end solutions are designed to drive sales, increase product awareness, and other measurable metrics.
02 Groundbreaking Tech —
Nextech is pioneering multiple AR technologies in several verticals, including human holograms, AR product visualization, ecommerce and advertising, and augmented packaging solutions.
03 Fortune 500 Clientele —
Companies like Amazon, Viacom, Johnson and Johnson, Bell Canada, and many more trust NexTech with their business.
04 Solving a $300B Problem —
Product returns represent $300B of lost e-commerce revenue, and Nextech’s AR solutions have been shown to reduce returns by as much as 50%, while increasing conversions by 20%. That’s a massive difference in potential revenue for online retailers.
Nextech is a Next Level AR Company
Nextech AR Solutions is one of the leaders in the rapidly growing Augmented Reality market, which is estimated to reach USD $72.7B by 2024. They are a diversified enterprise AR solutions provider, offering the FIRST scalable content creation platforms targeting ecommerce, advertising, and smart packaging.
Nextech is currently pursuing four unique verticals with their digital transformation technology;
Virtual Conference Platform: Nextech’s advanced Augmented Reality and Video Learning Experience Platform for Events utilizes an SaaS model to deliver engaging virtual events of all kinds, including elearning. The global virtual events market was valued at $90 billion in 2020 by Grandview Research, and it’s expected to reach more than $400 billion by 2027.
ARitize™ for eCommerce:, this is Nextech’s powerful SaaS platform for ecommerce. It serves as an end-to-end ecommerce solution that includes the Aritize360 app for 3D product capture, ‘Try it On’ technology, 3D and 360-degree product views, ‘one click buy’ and more.
ARitize™ 3D/AR Advertising Platform: This ad platform leverages 3D asset creation, making it among the first advertising platforms of its kind. The ad market is huge, and in 2019, according to IDC, global advertising spend totaled approximately $725B.
ARitize™ Hollywood Studios: An immersive experience platform using 360 video and AR technology.
The Race to the Metaverse
It may sound like Marvel’s latest Avengers installment, but no; the race to the Metaverse is a very real thing. And Nextech’s latest acquisition, U.K. based spatial computing company ARWAY Ltd., puts it in a prime position to become the Metaverse leader.
So what exactly is the Metaverse? Great question. The Metaverse is basically an entire virtual world that many digital leaders believe is the next step in the internet and computing as a whole. You might think of it like a completely immersive online game, that everyone can interact with via digital avatars; something that until recently only existed in science fiction. To be fair, that is still (sort of) the case.
While the technology continues to catch up to the eventual applications, someone has to begin building the framework for this massive undertaking. That’s where Nextech and ARway come in. The revolutionary technology ARway provides allows users to build mini-metaverses. Nextech would be a first-mover in this innovative area, utilizing ARway tech and their own advanced AR/VR applications to create interactive business fronts, map worlds, and basically provide the fundamental building blocks to this unbelievably exciting development.
In a recent press release, Nextech CEO Evan Gappelberg stated, “Creating the metaverse is the most ambitious thing we can accomplish as an augmented reality company, and now with the ARway platform plus Baran and Nikhil joining the Nextech team, we are positioned to do just that. The potential for Nextech to be first to market with mini-metaverses, spatial maps as NFT’s in the metaverse and leveraging our creator platform HoloX to populate the metaverse with content at scale is super exciting to me.” He continues, “with our global sales and marketing machine, our combined AI teams and our existing AR tech and resources as a public company, I’m convinced that we will quickly take a leadership position in the AR metaverse!”
Baran Korkmaz, CEO Co-founder of ARway also commented,”I believe this will be a historic moment in the development of the Metaverse, a vision that started over four years ago with ARWAY. Unifying human-machine understanding by connecting the digital and physical world to empower people to connect and share in deeper, more meaningful ways. And this vision is now becoming a reality with our new family at Nextech. As the future of augmented reality is inevitable, in this new age of Web 3.0, Mixed Reality and wearable cameras, it will be a large effort to map the physical world. And just like today’s web, there will be various use cases, proprietary data, walled gardens, and permission layers. So I’m super excited to be joining Nextech, where we will be at the next tech frontier”.
As first-movers, Nextech holds the advantage of setting the tone. It has the ability to profit immensely from this move, and we are excited to see the future unfold.
One of the biggest problems for ecommerce businesses (to the tune of $300B), is returns. It makes sense. People order things online, and when the item arrives it just isn’t quite right in some way. So they send it back and get a refund. No harm, no foul. Unless you’re the retailer. In that case, you’re looking at a huge amount of lost revenue, and possibly even a damaging review.
To solve this massive issue, Nextech has recently acquired Threedy.ai. Threedy’s AI, combined with Nextech’s powerful AR platform is a true game-changer for 3-D imaging in the ecommerce world. Having AR representations of products has been shown to reduce returns by up to 50%, and increase shopping cart conversions by 20%. At the very least that’s $150B in saved revenue every year!
So why doesn’t every retailer offer AR-enabled shopping? It’s simply a matter of scaling; at the moment, creating 3-D renderings of products is expensive and time-consuming. Each product has to be individually examined, designed, and rendered by an AR expert to make a usable image. But Threedy’s advanced AI allows excellent 3-D models to be created with just a picture of the item. Nextech can now offer big box retailers like Khols, Pier 1, and K-Mart Australia (who are already clients of Threedy) quick, affordable, scalable, high-quality 3-D imaging.
“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, in a recent press release. “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 is a true 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.”
Opportunities in Education
A recent Network News Wire article illustrate just how big an opportunity there is in the online education space. As stated in the piece, the global edtech market is estimated at $106 billion and forecast to expand at a 19.9% CAGR through 2028. Nextech, who is already partnered with Microsoft, Ryerson University, and more, is already well-positioned to take advantage of that growth.
Nextech’s edtech product, EdTechX, was launched earlier in June and has already received Microsoft’s co-sell ready status. That elite status unlocks a suite of benefits for Nextech, including sales planning, lead sharing, and more. Microsoft only offers this advantage to companies with cutting-edge tech and proven customer success.
““Nextech AR Solutions is helping education institutions digitally transform the way educators teach and the way students learn, by enabling remote experiential learning through EdTechX,” said Nancy Teodoro, education partner lead at Microsoft Canada.
Ryerson, Carnegie Mellon, and the Black Student fund have already begun using EdTechX, and the continued success of the product will pave the way for Nextech to begin courting the 5,300+ higher education institutions.
EdTechX is currently available on Azure marketplace and discoverable to millions of customers across 141 geographies and provides access to Microsoft’s existing procurement relationships.
With the advent of 5G, wearable devices, and the IoT, the way we interact with technology is changing at a breakneck pace. Just a few months ago we were all working in an office, face-to-face. Now, most of us are working from home using services like Zoom, Skype, or Google Meet. Our kids spent a whole year learning from their computers in virtual classrooms, and it’s safer to shop online than in-person.
The convergence of consumer need and technological capability has created a perfect storm of opportunity for those who can seize the moment.
While that graph represents the AR/VR market, this is what the 4th industrial revolution looks like across many technologies.
Nextech AR is an exciting company to watch as the need for AR innovation grows. Global spending on AR is expected to increase by 78% this year alone, with no sign of slowing down.
AR is often seen as a novelty, but NexTech is trying to change that. They use cutting edge technology to deliver superior user experiences across 4 main verticals (Advertising, Events, e-Commerce, and EdTech), and supply measurable ROI for their clients.
Working With the Best
Several multi billion dollar companies are slugging it out in the competitive AR space. So why do we have an eye on NexTech, the scrappy small-cap company? The fact that they posted $20M in revenue in 2020 helps, to be sure. One of the things we like so much is the passion of Evan Gappelberg, CEO of NexTech. He has hands-on experience taking startups to sky-high valuations from nothing, and is heavily involved in the operations of NexTech.
Evan recently went on a shopping spree and bought 250,000 shares of (drumroll please) NexTech. He believes in his company and thinks that it’s being undervalued. His faith is inspiring, and the direction the company is going makes us think he’s right.
The entire NexTech team boasts impressive resumes, and the recent addition of rock star sales people is encouraging. As announced in a recent press release, sales executives Zak Mcleod and Rory Gannes were brought on from Fastly and Salesforce, respectively. Each hire has over a decade of experience in enterprise sales and will help Nextech reach their 2021 goal of $50- $60 million in revenue.
“I’m delighted to welcome Zak and Rory who both have their finger on the pulse of new wave technologies reshaping the way we live, work and learn, making them ideal hires as demand is accelerating and Nextech is rapidly expanding to meet this demand throughout the EMEA, and North American markets” said Evan Gappelberg, CEO of Nextech AR. “Having talented salespeople with a history of success is key to driving revenue as we build towards our goal.”
Over the last six months, Nextech has been successful in attracting top talent from SAP, Apple, Microsoft Corporation, Disney, IBM, Oracle, NortonLifeLock, and now Fastly and Salesforce.com.
There is massive opportunity for AR in multiple markets due to a convergence of technological innovation and consumer need. A diversified small-cap company like NexTech is primed to leverage their current relationships into huge contracts, while they continue to advance the performance of their AR tech.
Diverse Offerings – NexTech is innovating across 4 verticals: Advertising, e-Commerce, Virtual Events, and EdTech.
Growth Market – The AR market is expected to grow to $72.7B by 2024 at CAGR 46.6%.
Results Driven – NexTech is driving market-wide AR adoption by increasing product awareness, online sales, brand loyalty, and measurable ROI.
Leadership – Experienced, passionate leadership is driving NexTech to make smart acquisitions and hires that will expand the company’s market share.
Team is collectively dedicated to building toward $1B in revenue
Leadership comes from Fortune 500 companies including Apple, Microsoft, SAP, and Disney
Large insider ownership, with the CEO holding 10% and climbing
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What we were paid to advertise the Profiled Issuers.
The details of our compensation and the period of the Campaign is set forth below.
Name of Issuer & Ticker Symbol - NexTech AR Solutions Corp. (NEXCF)
Amount & Form of Compensation - $1,030,000.00 in Common Stock
Who Paid for the Campaign & Position with Company if any - NexTech AR Solutions Corp.
Period of Campaign - March 4th 2021 to February 18th 2022
What securities of the Profiled Issuers do we hold?
The positions we hold of the Profiled Issuer are set forth below. We plan to sell these securities during the Campaign.
Name of Issuer & Ticker Symbol - NexTech AR Solutions Corp. (NEXCF)
Number of Shares We or our Affiliates Hold - 200,000
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