May 11, 2023
TORONTO, O.N, Canada – May 11, 2023 - ARway.ai (“ARway” or the “Company”) (CSE: ARWY), (OTC: ARWYF) (FSE: E65) is an AI powered Augmented Reality Experience platform with a disruptive no-code, no beacon spatial computing solution enabled by visual marker tracking with centimeter precision announces a sales pipeline of over $1.4MM in potential enterprise contracts, representing a significant revenue opportunity for ARway.ai as it expands its reach across the globe in the indoor navigation industry. The Company is in late stage negotiations with a number of enterprise accounts and expects to continue to build its pipeline for sales opportunities throughout the year with a goal of exiting 2023 with a $10mill pipeline going into 2024.
Evan Gappelberg CEO comments, “while we know having $ 1.4 million in a pipeline is not a guaranteed sale, we are extremely excited that we are receiving this amount of customer interest in our ARway solution across a wide range of industries. As we are working on enterprise deals these take longer than our other businesses like 3D modeling for e-commerce however we are confident. And while nothing is certain, we do believe that we will have a very successful and growing pipeline of deals and achieve a very high close ratio since these deals are highly qualified and deep-pocketed customers that we have been piloting, developing for and negotiating with over a period of time. He continues “with our recent announcement of Magic Leap and HoloLens integrations on deck and the Apple AR/VR headset set to launch this summer we believe that our business and pipeline will only accelerate from here.”
There have been a number of notable catalysts, which has increased pipeline growth significantly, with almost $1M in growth in April 2023 alone. These include:
Opportunities across major vertical markets such as retail, healthcare, education, manufacturing, telecom, and digital marketing firms;
Medium-sized and large enterprise customers;
Newly released Referral Partner and Service Provider Partner programs;
New pricing and go-to-market strategies including integration and app development for various AR glasses manufacturers;
This announcement comes after a number of exciting updates for the Company. As recently announced, the release of the integration with Magic Leap and Microsoft HoloLens AR glasses is a game changer. With the integration, ARway will provide a software package for agencies, brands and corporations to create and publish large-scale location persistent AR experiences to these AR glasses from the ARway platform, leveraging ARway's computer vision and extended tracking technologies. The markets that this will service are industrial, manufacturing and retail, and will provide hands-free immersive digital experiences for users to improve productivity.
In addition, ARway.ai is now trading on the OTCQB exchange, with the uplift indicating that the Company has achieved a certain level of financial and operational success and is committed to maintaining transparency and good governance practices.
ARway has had a number of technology enhancements, including the update to SDK 2.3, a patent-pending AI-powered 3D digital twin floor plan generation technology, as well as filing its first patent for this technology.
The Company believes that its technological advances and new market opportunities, as well as the integration with prominent AR glasses providers and uplift to the OTCQB has solidified consumer confidence in its products, and anticipates the pipeline will increase exponentially over the coming months.
ARway is an AI-powered platform that provides augmented reality experiences for indoor spaces. The platform allows users to easily create experiences for navigation, tours, information sharing, notifications, advertising, and gamification. ARway leverages the power of mobile devices to create environments that can improve visitor experience, boost employee productivity, increase engagement, create new advertising space, and boost revenues. Visitors can scan a QR code to access a venue map, navigate to any point of interest with step-by-step directions, learn information about those POIs, and interact with rich AR content and experiences along the way. ARway has unlimited use cases for augmenting physical spaces in the metaverse, making it a valuable tool for creators, brands, and companies in various industries. The complete ARway platform includes: the Web Creator Studio, the ARwayKit Software Development Kit (SDK) and a mobile app for iOs and Android.
On October 26, 2022, ARway.ai. was spun-out from its parent Company, Nextech3D.ai (OTCQX: NEXCF) (CSE: NTAR) (FSE: EP2). Nextech retained a control ownership in ARway.ai. with 13 million shares, or a 50% stake. Nextech3D.ai is a Metaverse Company and leading provider of augmented reality (“AR”) experience technologies and 3D model services. Nextech’s AI-powered 3D modeling platform, “ARitize3D” has contracts with; AMZN, KSS, CB2, Genuine Parts & many others. To learn more about Nextech3D.ai, visit www.nextechar.com
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Certain information contained herein may constitute “forward-looking information” under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as, “will be” or variations of such words and phrases or statements that certain actions, events or results “will” occur. Forward-looking statements regarding the completion of the transaction are subject to known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove to be accurate, as future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. ARway.ai will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.