Toggle3D Gaining Traction in $160 Billion Global CAD-3D, Sees Adoption Accelerating in 2023
Toggle3D.ai (the ‘Company’) (CSE:TGGL)(OTC PINK:TGGLF), a revolutionary SaaS solution harnessing the power of generative AI to convert CAD files, apply stunning 4K texturing, and seamlessly publish superior 4K 3D models, is delighted to announce a significant milestone of surpassing 6000 users since its product launch in June. This remarkable achievement represents a 125% surge in user adoption, positioning Toggle3D.ai as a frontrunner in the estimated $160 billion Global GGI Application Software market. The rapid growth not only demonstrates the market’s strong demand for Toggle3D.ai’s cutting-edge technology but also highlights the Company’s commitment to driving innovation and delivering substantial value to its shareholders
Toggle3D.ai’s innovative SaaS solution primarily targets product designers and industrial designers, offering seamless integration with CAD files and the ability to convert CAD to Web 3D Mesh effortlessly. Leveraging breakthrough generative AI technology, Toggle3D.ai empowers users to generate 3D materials from text prompts, benefit from AI-powered image analysis and 3D texturing tools, and utilize its powerful CAD to POLY importer capable of converting manufacturing files over 1000mb, a significant improvement of over 10X in converting power. The Company remains dedicated to consistently releasing new features, ensuring a continuously enhanced user experience.
CEO of Toggle3D, Evan Gappelberg, stated, ‘Since our Beta Version launch in late January, Toggle3D.ai has experienced remarkable growth in user adoption. Our web-based design studio has attracted a diverse range of users, including designers, developers, 3D artists, entrepreneurs, and creators. The invaluable feedback, discovery of new use cases, and suggestions for new features from our active early adopters have been instrumental in shaping the platform’s development and reinforcing its product-market fit. We are excited to witness the continuous increase in user sign-ups, enabling us to gather vital user behavior data to further accelerate our development process and address critical pain points.’
As Toggle3D.ai continues to revolutionize the industry by offering an efficient and user-friendly platform for converting, texturing, customizing, and sharing web-friendly 3D models, its growing user base showcases the platform’s versatility and potential. The Company remains committed to delivering exceptional solutions and actively engaging with its users to drive ongoing innovation.
Toggle3D.ai Benefits Over 3D Legacy Software
NO Learning Curve
Toggle3D.ai stands out from legacy 3D design software by eliminating the learning curve and making 3D design accessible to everyone, regardless of their technical background. Unlike traditional systems that require months of learning, Toggle3D.ai simplifies the process by humanizing design terminology, providing guided templates, and using machine learning to make the tools user-friendly.
Web-based Collaboration
Being web-based, users can access Toggle3D.ai instantly on their browsers without the need for downloads, updates, or system compatibility concerns. Additionally, the platform will offer advanced in-app collaboration features, enabling multiple users to work together on the same project in real-time, facilitating quick feedback, decision-making, and cross-department collaboration.
These collaborative tools empower businesses to adopt 3D design organization-wide, enhancing workflow efficiency and unleashing the potential of group iteration.
Shares for Services
The Company also announces today that in order to manage its cash flow and reduce or possibly eliminate its dependency of raising capital for payroll or contractor expenses it has established a new share purchase warrant program pursuant to which it will issue an aggregate of 737,550 share purchase warrants (the ‘Warrants’) to its service providers in connection with their employment and/or consulting arrangements with the Company. Each Warrant will be exercisable to acquire one common share of the Company (an ‘Underlying Share’) at an exercise price of Cdn$1.00 for a period of one year. The Warrants will be automatically exercised in equal monthly tranches on a pro rata basis over the term of the Warrants, and the exercise price will be satisfied by the monthly salaries or contractor payments otherwise payable by the Company to the recipients of the Warrants. Upon exercise, the recipients of the Warrants may opt to either receive the Underlying Shares, or participate in a managed sale program to sell the Underlying Shares on the open market and receive the cash proceeds. Any shortfall as a result of participation in such a managed sale program will be funded by the Company.
Recent Toggle3D.ai News
About Toggle3D.ai
Toggle3D.ai (CSE:TGGL) (OTC:TGGLF) is a groundbreaking SaaS solution that utilizes generative AI to convert CAD files, apply stunning 4K texturing, and enable seamless publishing of superior 4K 3D models, serving various industries within the $160 billion CGI market. With its Augmented Reality-based rapid prototyping web app, Toggle3D empowers designers, artists, marketers, and eCommerce owners to effortlessly convert, texture, customize, and publish high-quality 3D models and experiences, regardless of technical or 3D design expertise.
Toggle3D.ai Investor Relations
Visit the Toggle3D Investor Relations website and sign up for the investor mailing list to receive the latest news, press releases, investor presentations, CEO interviews, financial information and more.
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Follow Toggle3D.ai on Social Media
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LinkedIn: https://www.linkedin.com/company/toggle3d-ai/
Twitter:https://twitter.com/Toggle3Dai
For further information, please contact:
Investor Relations Contact(s)
Julia Viola, Lindsay Betts
investor.relations@toggle3D.ai
Toggle3D.ai
Evan Gappelberg
CEO and Director
866-ARITIZE (274-8493)
Forward-looking Statements
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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. Nextech will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.
SOURCE:Toggle3D.ai Inc.
View source version on accesswire.com:
https://www.accesswire.com/767527/Toggle3Dai-Announces-125-Jump-in-New-Users-Crossing-6000-in-First-Month-After-IPO
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