22:01:43 EDT Mon 06 May 2024
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ARway Corp
Symbol ARWY
Shares Issued 26,786,867
Close 2023-06-20 C$ 0.83
Market Cap C$ 22,233,100
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ARway files AR patent for indoor navigation tech

2023-06-21 11:20 ET - News Release

Mr. Evan Gappelberg reports

ARWAY.AI FILES PIVOTAL AUGMENTED REALITY PATENT FOR ITS GROUND-BREAKING INDOOR NAVIGATION TECHNOLOGY

ARway Corp. has secured a provisional patent for its groundbreaking technology. The patent, "Device Localization based on Computer Vision and Visual Inertial Odometry," was filed with the United States Patent and Trademark Office (USPTO), signalling a pivotal leap forward in augmented reality (AR) innovation. This technology is a foundational key part of the value proposition of the ARway platform and positions the company at the forefront of the $44-billion global indoor positioning and indoor navigation (IPIN) market. With this new patent filing, ARway continues to revolutionize indoor navigation.

This latest provisional patent filing follows the previously announced digital twin patent and is the second in a series of patents planned to secure ARway's groundbreaking technology. This pioneering system tackles one of AR's most notable challenges, ensuring large-scale location persistence in indoor spaces without the need for expensive retrofitting. Instead, ARway's patent-pending technology harmoniously integrates visual markers, such as QR codes or other identifiable 2-D objects in the physical environment, with an on-line map database. Once a marker is detected, the system cross-references this with the digital map, determining the device's physical location. From this point onward, the device tracks its movement using visual-inertial odometry (VIO), thus maintaining a continual location estimate. To account for variances in sensors and technologies available on individual devices which can range from cellphones and tablets to headsets and smart glasses, the ARway system seamlessly blends computer vision and odometry techniques by identifying additional visual markers in the space. This enables AR location persistence in large spaces like factories, malls, airports and university campuses.

What distinguishes ARway's system is its focus on computational efficiency, significantly minimizing the processing load on the client's device. Proprietary algorithms and processing cadence developed by ARway ensure optimal localization accuracy, battery efficiency and cross-platform compatibility.

ARway's chief executive officer, Evan Gappelberg, comments, "This patent is not just a testament to ARway's technical acumen but also highlights its commitment to delivering enhanced AR experiences." He continues, "ARway is poised to make a significant impact across a multitude of industries, propelling user engagement to new heights, catalyzing new business opportunities in AR and helping to usher in the spatial computing age."

ARway's remarkable invention is set to redefine the future of augmented reality. With this inventive step, ARway continues to champion technological innovation, firmly establishing itself at the forefront of the AR spatial computer space.

About ARway Corp.

ARway is a spatial computing platform powered by artificial intelligence providing an array of augmented reality experiences for indoor spaces. Its breakthrough no-code, no-beacon IPIN allows for the easy creation of navigation, tours, information sharing, notifications, advertising and gamification. ARway works seamlessly as a cross-platform solution on iOS/Android. It is optimized for both mobile devices and AR glasses: Apple's Vision Pro, Magic Leap and HoloLens. ARway has unlimited use cases for augmenting physical spaces, making it a valuable tool for creators, brands and companies in various industries. The complete ARway platform includes: the Web creator studio, the ARwayKit software development kit (SDK), and a mobile app for iOs and Android.

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