SALT LAKE CITY - TruGolf Holdings, Inc. (NASDAQ:TRUG), a prominent provider of golf simulation technology, has entered into a licensing agreement with mlSpatial, an AI and machine learning company, to utilize a co-developed AI engine for its APOGEE launch monitor, the company announced today.
This agreement grants TruGolf the preferential option to acquire all of mlSpatial's assets, positioning the company to further cement its place in the growing golf simulation market.
The partnership aims to enhance the accuracy of the APOGEE launch monitor, which is a ceiling-mounted system designed to capture detailed club and ball data without requiring special equipment. The integration of the AI engine is expected to improve the 9-axis spin accuracy of the device, offering golfers a more realistic indoor playing experience.
Brenner Adams, Chief Growth Officer of TruGolf, emphasized the company's commitment to leveraging AI technology to advance the performance of its products. "The collaboration with mlSpatial marks an exciting chapter in TruGolf's journey towards perfection in launch monitor accuracy," Adams stated.
Josh Pomazal, CEO of mlSpatial, also commented on the partnership, highlighting the role of their advanced AI models in revolutionizing spatial dynamics analysis for various hardware applications.
The APOGEE system utilizes an ultra-high-speed stereoscopic camera and the INSTANT IMPACT image analysis algorithm to process shot data rapidly, providing real-time simulation of on-screen shots.
The golf simulation market, where TruGolf is a key player, was valued at $1.31 billion in 2023 and is projected to expand to $3.41 billion by 2030, growing at a compound annual growth rate (CAGR) of 24%, according to Verified Market Reports.
TruGolf's foray into AI-enhanced golf simulation is part of its broader mission to make golf more accessible and affordable through technology. The company has a history of creating award-winning video games and innovative hardware solutions, including the E6 CONNECT e-sports platform.
This news is based on a press release statement from TruGolf Holdings, Inc. and does not include any speculative content. For more information about TruGolf and its products, visit the company's website.
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