Licensing becomes a reality for NextGen’s 3D rendering technology
NextGen Shopping Pte Ltd has developed a pioneering 3D rendering technology that produces photo-realistic images with smaller file sizes than its competitors, allowing websites to use multiple images cost-effectively. NextGen uses their advanced, scalable technology to reproduce the retail environment on the consumer’s own smartphone, tablet, laptop or desktop. The resulting immersive realism helps strengthen consumers’ brand engagement and powerfully boosts e-commerce results.
The product’s complexity (including creating and licensing 3D images, and augmenting 2D and 3D images into virtual settings), meant founder Rajiv Srivastava and his newly formed start-up needed a legal team that understood both their technology and their commercial requirements.
Since its incorporation in October 2015, we have advised NextGen on its fund-raising strategies and commercial transactions.
We recommended a funding strategy aimed at balancing the interests of existing shareholders and ensuring NextGen secured the capital injection they needed to develop the company. We also devised a range of commercial transaction strategies to fulfil the needs of NextGen’s clients whilst protecting the company’s intellectual property rights.
“We appreciate all the help Taylor Vinters Via has provided. I cannot think of any other firm that could have helped us to the extent it did.” – Rajiv Srivastava, CEO of NextGen
Making great things happen
Our advice has helped NextGen raise USD$1.24 million and expand to more than 50 staff. With its resources and reputation continuing to grow, NextGen has scored some significant client wins, such as Unilever, Croma Retail (a subsidiary of Tata Group) and Challenger.
By enabling NextGen to fully leverage all the benefits of its groundbreaking 3D and other virtual reality technology, we’ve not only helped them secure the funds they required, but also achieve their vision: to revolutionise e-commerce and the future of shopping.
NextGen’s rapid transition from start-up to business success was acknowledged when they were acclaimed one of the 20 Hottest Startups in Singapore in 2017 by Singapore Business Review.
About NextGen Shopping Pte Ltd
NextGen Shopping Pte Ltd is a technology company that revolutionises the future of shopping. Its vision is to “enhance the experience of online shopping using the latest imaging technologies”. NextGen Shopping Pte Ltd aspires to be one of the world’s best technology companies specialising in web-based 3D reconstruction and virtual, augmented and mixed reality, creating images viewable on most devices. NextGen Shopping Pte Ltd, which originated in Singapore and now has development facilities in India, aims to develop the world’s largest resource of 3D images and experience for its clients.