The leading provider of augmented reality experience technologies and services, Nextech AR Solutions, has acquired Threedy.ai, Inc. in an all-stock transaction valued at $9.5 million.
“This deal is transformative for NexTech and gives us the key to the augmented reality kingdom,” stated NexTech CEO Evan Gappelberg.
“This deal opens up the floodgates for NexTech and the industry because right now, the way people develop AI models is to spend hours modeling from scratch or modifying existing models. Most companies don’t have enough manpower to do this at scale. 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.”
The acquisition would enormously benefit NexTech’s ongoing projects with its Fortune 500 clients, including Amazon, ViacomCBS, Johnson & Johnson, Bell Canada, UNESCO, Dell Technologies, Luxottica, Vulcan Inc., Boehringer Ingelheim, TEDx, Grundfos, and Arch Insurance.
Threedy is a Silicon Valley-based company creating a genuinely disruptive end-to-end solution around its model creation technology for the AR industry. The company was founded by former Apple computer vision engineers who developed a model which scales to 1,000s of 3D models per week.
“On every Shopify and Amazon site, you just drop the code, and it scrapes the site for images and obtains measurements, giving you a 3D asset and QR code. You don’t need an app. It’s magic. These guys have cracked the code,” added Gappelberg.
“Retailers including Kohl’s, Pier1, and KMart Australia are already using Threedy’s technology to offer AR shopping experiences at scale, and now together with Nextech, we will create a unified, scalable 3D content creation engine for all our AR solutions,” said Nima Sarshar, CEO of Threedy.