NexTech AR will be involved in supplying AR (augmented reality) solutions to a US tech company. The offered solutions will be in the form of a brandable ARitize app for tech product demonstrations.

In the wake of the coronavirus pandemic, NexTech mentioned that the two companies are working dedicatedly to create new AR business use cases.

Details on the deal

In a candid approach, NexTech AR Solutions Corp. disclosed that the deal amount to supply AR solutions to a US-based tech multinational was closed at USD 35,000, with a market cap of USD 3 billion.

On the business front, NexTech at present is bidding on additional contracts that are valued at USD 80,000 and hope to close the deals within the next month or two.

Interestingly, NexTech has witnessed a rise in demand across various business segments along with AR for eCommerce, the InfernoAR virtual events platform, and its ARitize white label app.

CEO Evan Gappelberg added to this and expressed, “We are gratified to be adding yet another billion-dollar global leader to our customer base as they have the option of choosing anyone and only choose the best of the best.”

On a positive note, the CEO added, even during the wake of the pandemic, the AR spectrum is witnessing a rise and gaining momentum as an essential business tool to level the gap between the brand-new world of social distancing. He made a special mention of AR’s unique potential to create a sense of presence that has literally hit the bull’s eye for companies looking for demo solutions.

On the business front, NexTech AR is presently working on the use of AR technology targeting four primary verticals, namely, eCommerce, entertainment, education, and advertising.