SALT LAKE CITY, March 20, 2024 (GLOBE NEWSWIRE) -- TruGolf Holdings, Inc. (Nasdaq: TRUG) ("TruGolf"), among the leading sellers and distributors of golf simulator software and hardware, today announced it has entered into a definitive agreement with mlSpatial, a leading AI and machine learning engineering company, to license the AI engine they co-developed to increase 9-axis spin accuracy for TruGolf's acclaimed new APOGEE launch monitor. The agreement gives TruGolf the first right of refusal to purchase 100% of mlSpatial assets.
This relationship will help strengthen the position of TruGolf in the golf simulation market which was valued at $1.31 billion in 2023 and is expected to reach $3.41 billion by the end of 2030 with a CAGR of 24%, according to Verified Market Reports. With the option to purchase the AI engine, TruGolf is committed to harnessing the power of AI to continually elevate the performance and accuracy of its products.
"The collaboration with mlSpatial marks an exciting chapter in TruGolf's journey towards perfection in launch monitor accuracy," stated Brenner Adams, Chief Growth Officer of TruGolf. "By leveraging AI technology, we are empowering players to enjoy indoor golfing like never before, with enhanced accuracy, ease of use, and immersive gameplay."
The integration of AI-driven technology into APOGEE represents a significant advancement in indoor golfing, making it easier and more enjoyable for players to improve their skills and experience the thrill of the game. TruGolf remains committed to pushing the boundaries of innovation and delivering exceptional value to its customers.
Josh Pomazal, CEO of mlSpatial, commented, "mlSpatial is revolutionizing spatial dynamics analysis through advanced AI models tailored for a multitude of hardware applications. Working with TruGolf to co-develop the AI engine powering APOGEE, users now enjoy a more realistic playing experience, achieved through seamless integration of spatial and trajectory data, resulting in unparalleled efficiency and accuracy."
APOGEE stands as the pinnacle of technological advancement in launch monitors. This ceiling-mounted, camera-based system accurately captures club and ball data without the need for specialty balls or marked clubs. With each swing, APOGEE meticulously measures multiple data points from both the ball and club. The in-game ball flight is always grounded in real, measured data. Utilizing a proprietary ultra-high-speed stereoscopic camera system and the all-new INSTANT IMPACT image analysis algorithm, APOGEE gathers shot data swiftly and accurately. INSTANT IMPACT processes information from both club and ball instantaneously, simulating on-screen shots with no lag or delay.
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