NexTech AR Solutions Corp (OTCQB:NEXCF) (CSE:NTAR) (FRA:N29) CEO Evan Gappelberg will be presenting an update at another Proactive Livestream event this Thursday as the augmented reality innovation company continues to demonstrate strong growth and dealmaking.
NexTech AR recently reported that it had achieved a record 315% year-over-year increase in its Black Friday sales across its augmented reality (AR) eCommerce platform.
The company attributed the soaring sales throughout the month of November to the addition of new AR/3D shopping experiences, plus NexTech’s new brand lineup announced in August, including Philips Norelco, MR. Coffee, Vitamix, MetroVac, Breville, and Cuisinart.
Over the past month since its last Livestream update, NextTech AR has also announced the creation of a new artificial intelligence (AI) division intended to complement its augmented reality offerings.
The group has reached deals to establish seven additional strategic channel partnerships in the Asia Pacific region, bringing its total there to eight. It also announced the signing of an expanded distribution deal with the Dyson brand, boosting its revenue by 20%.
And it has acquired the event management platform Map Dynamics, based in Athens, Georgia, which offers a consolidated set of self-service event management tools through its event home base technology, coupled with dedicated support teams to create virtual, in-person or hybrid events. The deal cost NexTech C$780,000 in cash up-front, with a 12-month potential earn-out of another C$525,000.
The latest hour-long live presentation, hosted by Proactive’s Steve Darling will take place at 12.30 pm EST on December 10.
Investors can register for the event here.
NexTech, which is pursuing four multi-billion-dollar verticals in augmented reality, is continuing to experience rapid growth for all its services, with demand especially high for its AR Solutions which include WebAR, AR ads, ScreenAR, Human holograms as well as custom AR solutions.
The company which bills itself as the first publicly traded “pure-play” AR company has offices in offices in New York, Toronto, Dallas and San Jose.