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Overview
Computer-aided design and drafting (CAD) files are used in virtually every segment of the manufacturing industry. In many regions, organizations in both the public and private sector are required by law to leverage CAD files as part of their design process. They also have significant applications in other sectors, particularly those that leverage computer-generated imagery (CGI) such as game development, graphic design and eCommerce.
CAD files encompass nearly everything about a physical product, from technical details and specifications to materials. Unfortunately, in spite of their ubiquity, CAD files also don’t translate well to other file formats or use cases.
In light of ballooning costs and emerging technology like augmented and virtual reality, companies are increasingly transitioning to 3D models in lieu of traditional product photography. Consequently, the market for 3D CGI is set to undergo significant growth over the next several years.
There has never been a greater market need for a solution that can bridge the gap between engineering and design – a means of transforming CAD files into workable 3D models. Toggle3D.ai (CSE:TGGL) is precisely that, democratizing 3D design and positioning itself to completely disrupt the industry.
A groundbreaking SaaS solution, Toggle3D.ai uses generative AI to convert CAD files into 4K 3D models. Developed as a point-and-click solution that requires minimal technical knowledge, the platform empowers designers, artists, marketers and eCommerce companies to effortlessly convert, texturize, customize and publish photorealistic 3D models and experiences.
How it works is deceptively simple — after ingesting any number of CAD files, the platform strips them of their heavy engineering components and turns them into a 3D mesh. From there, users can apply a range of different materials and textures with no need to worry about what’s happening under the hood. As a result, models that once may have taken days to create can now be generated and refined in minutes.
The platform also features a comprehensive library of pre-made materials along with the ability to create or generate your own.
Artificial intelligence plays a considerable role in Toggle3D.ai’s effectiveness, both simplifying and speeding up every stage of the design process. Crucially, it’s able to do this at nearly any scale, taking in CAD files of up to 1,000 MB and reducing their size by up to 95 percent as they’re converted to web-friendly 3D models. In this way, the company truly closes the gap between engineering, art and design — and provides a compelling option for organizations that want to create 3D models without the investment that typically entails.
Company Highlights
CAD files are ubiquitous in multiple industries, including manufacturing, game development and graphic design.Initially, the company plans to target direct-to-consumer (D2C) manufacturers, which use CAD files to produce consumer products. Toggle3D.ai will allow these companies to create photorealistic 3D models from its engineering files.Because so few companies possess the expertise to develop such a complex platform, Toggle3D.ai has the potential to become the dominant supplier of 3D models for both the product design and the industrial design space. Toggle3D.ai’s overall roadmap is highly product-driven, with plans to release new features weekly and upgrade the platform’s AI monthly. Company leadership is actively collaborating with other companies in the generative AI sector, and in talks with several major tech companies, which have expressed interest in signing a multi-year deal, according to the company’s CEO Evan Gappelberg.
Key Technology
Named for its developer, Toggle3D.ai is a SaaS-based self-service platform that leverages artificial intelligence to convert CAD files into highly customizable photorealistic 3D models at scale. The platform allows users to rapidly convert, texturize, customize and share these models without a significant learning curve or overly time-consuming design process. Toggle3D.ai ran a public beta of its platform from February to March 2023 in which over 2,600 users created more than 3,800 designs and uploaded upwards of 750 files.
The company worked closely with these engineers and designers throughout the platform’s beta period and took an active role in addressing any pain points or concerns. Toggle3D.ai officially launched on June 8, 2023. As part of the launch, it introduced multiple design and functionality improvements based on user feedback.
Highlights:
Considerable Competitive Advantage: Given the difficulty involved in cracking the code on 3D models, Toggle3D.ai claims its platform is the first of its kind, with the potential to revolutionize the manufacturing and design industry.Disrupting Legacy Software Players: Toggle3D.ai’s breakthrough AI and machine learning platform will allow manufacturers and designers to sidestep the training and time-intensive processes traditionally used for 3D modeling. The company has likened this disruption to how Canva has rapidly replaced legacy photo editing solutions. Significant Revenue Potential: Toggle3D.ai’s SaaS-based business model represents a massive growth opportunity. Because its pricing model is per-user, even a single enterprise contract has the potential to generate upwards of six figures. Cost-effective Sales Materials: Toggle3D.ai is in the process of building a virtual photography studio to supplement its core platform. This will allow companies to create and stage product imagery while foregoing the immense costs associated with traditional product photography. Streamlined Collaboration: The collaborative process in the design and manufacture of custom B2B products is currently incredibly disjointed, taking place across multiple platforms and conversations. Toggle3D.ai promises to consolidate and streamline that process, enabling everything to take place within a single collaborative 3D environment. Positive User Feedback: User testimonials during Toggle3D.ai’s beta stage highlighted the following strengths: Powerful image searchSeamless tilingThe ability to quickly assign new materials to modelsAn intuitive, user-friendly interface A versatile and seamless materials library
Management Team
The Directors, Officers and Management team of Toggle3D.ai are:
Evan Gappelberg – Chief Executive Officer
Evan Gappelberg, the dynamic Director and CEO of Nextech, is a seasoned entrepreneur renowned for his ability to launch and lead successful start-ups. With expertise in funding, operations, and public markets, he brings a wealth of experience to the table. As the visionary behind over 500 popular apps on Apple’s iTunes and Google Play stores, Gappelberg’s entrepreneurial journey began even before his impressive Wall Street career as a hedge fund manager and senior VP of finance. With a remarkable track record and deep knowledge of capital markets, he is a driving force in managing Nextech’s growth as a public company.
Belinda Tyldesley – Director and Corporate Secretary
Belinda Tyldesley is the president of Closing Bell Services, a consulting company that provides corporate secretarial services. Tyldesley has extensive experience across all sectors of the economy with regulatory compliance in all Canadian jurisdictions and reporting issuers listed on the Toronto Stock Exchange (TSX), the TSX Venture Exchange, Canadian Securities Exchange and the NEO Exchange, as well as providing legal assistance and secretarial services. Tyldesley holds an associate diploma in business legal practice from Holmesglen College in Melbourne, Australia. She currently serves as the corporate secretary and a director of Nextech and Arway.
Andrew Chan – Chief Financial Officer
Andrew Chan has over 20 years of experience across finance, accounting, business analytics, and strategy, focusing on the technology and financial services sectors with half of his career serving high-growth, public technology companies. Chan has successfully integrated and led finance-related functional groups including treasury and banking, corporate reporting and budgeting and was instrumental in forging strong relationships with business unit leaders to enable successful revenue forecasting and delivery. He currently serves as the chief financial officer of Nextech and Arway. Chan is a chartered public accountant and holds a Bachelor of Commerce degree specializing in accounting and finance from the University of Toronto.
Jeff Dawley – Director
Jeff Dawley is president and co-founder of Cybersecurity Compliance Corp., a cybersecurity company, and previously served as the principal and chief financial officer of BridgePoint Financial Group, a litigation finance group of companies. Dawley currently serves as a director of Nextech and Arway.
Reza Davariar – Chief Operating Officer
Reza Davariar is an experienced business strategist and cross-organizational leader with more than 20 years of professional experience across strategy consulting, business operations and sales management. Davariar has a broad range of experience working with executive leadership, reducing internal costs, and establishing methodologies to boost customer satisfaction through successful operational performances, CRM initiatives and KPI targeting.