Newbury Street Acquisition Target Infinite Reality to Unveil ‘Revolutionary’ Automotive Onboarding Service Featuring Generative AI and VR

Infinite Reality (iR), which is engaged in artificial intelligence innovations and immersive virtual experiences, together with telecommunication giant Vodafone, announced the unveiling of an innovative original equipment manufacturer (OEM) onboarding service at Mobile World Congress 2024 in Barcelona. This product, set to redefine automotive retail and customer onboarding, will be showcased in a state-of-the-art mixed reality experience, demonstrating the advanced capabilities of Vodafone's Pairpoint technology.

Infinite Reality has a merger agreement with Newbury Street Acquistion. At deal announcement in December 2022, the transaction was expected to provide up to $128 million growth capital to Infinite Reality. That amount assumed no redemptions. There is a minimum cash condition of $50 million to close.

Newbury raised $120 million in an April 2021 . About about 47% of the SPAC's shares were redeemed in connection with an extension vote almost a year ago.

AI-Onboard utilizes the latest in generative AI, coupled with augmented reality (AR) and virtual reality (VR), to offer an immersive and interactive experience that showcases the future of customer engagement and retail. Read more.


Source: Newbury Street Acquisition Target Infinite Reality to Unveil ‘Revolutionary' Automotive Onboarding Service Featuring Generative AI and VR