15:59:07 EDT Sun 28 Apr 2024
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ARway Corp
Symbol ARWY
Shares Issued 27,920,957
Close 2024-03-21 C$ 0.35
Market Cap C$ 9,772,335
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ARway to pilot AR app at 323,000 sq ft mall in Albania

2024-03-22 08:12 ET - News Release

Mr. Evan Gappelberg reports

ARWAY.AI ANNOUNCES MAJOR 300,000 SQ FT OR 30,000 M. RETAIL STORE PILOT OF ITS AR NAVIGATION PLATFORM

ARway Corp. has formed a new partnership with Megatek, Albania's leading home improvement and do-it-yourself (DIY) retailer. This groundbreaking collaboration is set to bring an unprecedented retail experience to the Albanian market, beginning with a pilot program at Megatek's expansive flagship store that spans more than 323,000 square feet.

The successful implementation of ARway's technology in Megatek's flagship store will pave the way for future deployments across more locations and similar stores, signalling a significant growth and revenue opportunity for both companies.

Megatek, renowned for its vast selection of furniture, decor, building materials, gardening supplies and household goods, has long been the go-to destination for DIY enthusiasts and professionals alike in Albania and Eastern Europe. However, navigating the immense 30,000-square-metre retail space has been a challenge for customers, making it difficult to ascertain product availability and locations within the store.

In response to this challenge, ARway and Megatek are introducing an innovative solution that combines AR navigation and wayfinding with digital advertising and content delivery. Unlike traditional in-store kiosks, which require significant investment in hardware and installation, ARway's mobile app technology offers a cost-effective, user-friendly alternative. Customers can now enjoy seamless in-store navigation with a single scan, accessing a product directory, detailed descriptions and pinpoint navigation to their desired products with ARway's advanced spatial accuracy.

This partnership is not only a significant milestone for ARway, marking its entry into the European retail market, but also represents a significant leap forward for retail innovation. By integrating augmented reality technology into the shopping experience, Megatek aims to enhance customer satisfaction, reduce time spent in store and open new channels for personalized, proximity-based promotions.

ARway's technology for the retail industry enables seamless navigation with a single scan and pinpoint precision, with every step enabled by ARway's advanced spatial accuracy. ARway's technology offers a product directory, product descriptions and navigation to products with pinpoint precision, making this a perfect solution for Megatek.

This news follows recent news by ARway regarding a new a paid partner deal with EWROS, a leading developer of automation systems software based out of Turkey. This new partner is another step in ARway's expansion, aligning with EWROS's recognized position in the region as a premier automation solutions provider. EWROS becomes an integral part of the ARway ecosystem, licensing ARway's innovative platform for large-scale projects within the region.

About ARway Corp.

ARway is a spatial computing platform, powered by artificial intelligence, providing an array of augmented reality experiences for indoor spaces. ARway's breakthrough no-code, no-beacon IPN 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. ARway's technology is optimized for both mobile devices and AR glasses: Apple's Vision Pro, Magic Leap and Microsoft's 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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