Nextech3D.ai (NTAR.C) is a diversified augmented reality, AI technology company that leverages proprietary artificial intelligence (AI) to create 3D experiences for the metaverse. Its main businesses are creating 3D WebAR photorealistic models for the Prime Ecommerce Marketplace as well as many other online retailers. Nextech is a generative AI-powered 3D model supplier for Amazon, Kohls, P&G and other major e-commerce retailers.
Today, Nextech3D.ai announced the grand opening of its office space in Hyderabad, India. This expands Nextech3D.ai’s profit margins and dramatically reduces overhead costs projected to save the Company as much as $4 million annually.
Hyderabad has been crowned by investors as India’s next startup powerhouse destination. “From 2014 to 2023, Hyderabad has emerged as a powerhouse in the Indian startup landscape. Its startup ecosystem now proudly boasts 4,369 tech startups.”
The Company has established Nextech3D Solutions India Private Limited, which is anticipated to increase profitability and reduce labor costs. 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.
Nextech’s Hareesh Achi is currently in India to launch operations. The Company recently appointed Hareesh Achi as the new Head of Product Operations. Having worked at industry titans MSFT & META for over a decade Hareesh has a deep-rooted understanding of big technology, coupled with extensive experience in building efficient, scalable and profitable technology operations. Hareesh is poised to play a vital role in enhancing Nextech3D.ai’s profitability through operational effectiveness, and is heading the efforts in India.
The move to India comes in preparation as the Company is now exclusively focused on high-scale production for its 3D modeling business with Amazon and other enterprise accounts.
After printing all time record lows at $0.135, the stock has begun a bounce and recovery. Some good momentum here, but technically, the stock remains in a downtrend and can see selling resume. What bulls want to see is for the stock to take out the $0.24 level since this is the current lower high keeping the downtrend intact.
