San Francisco, Mar 25 (IANS): Snap, the parent company of Snapchat, has quietly acquired 3D-scanning studio called Th3rd for an undisclosed sum.

A company spokesperson told TechCrunch that four team members from Netherlands-based Th3rd have joined Snap as part of the acquisition.

According to Th3rd's website, it creates digital 3D counterparts of people or products.

"These high-resolution digital 3D models are your building blocks for huge amount of applications, like photos, videos, visualizations, animations, 360 degree photos, holograms, VR and AR," reads the description.

Founded in 2014, Th3rd has been investing in AR-powered commerce in recent years and is building out its platform to leverage the technology.

In April last year, it introduced tools that turn retailers' photos into 3D assets.

Snap has acquired several augmented reality (AR) companies in the last few years.

In May 2021, Snap acquired AR startup WaveOptics that supplied technology to power Snap's Spectacles AR glasses for $500 million.

In March 2021, Snap acquired Fit Analytics and in July, it acquired 3D and AR commerce company Vertebrae. Last year, Snap disclosed it acquired AR company Forma.

Snap this week launched a new business unit that will offer its augmented reality (AI) solutions to retailers and businesses so they can integrate them into their apps.

The new "Augmented Reality Solutions for Business" (ARES) division will enable businesses to adapt Snap's AR features for their apps and websites in order to attract customers and create more immersive experiences.

Meanwhile, Snap has introduced its new AI chatbot for Snapchat. It is powered by the latest version of OpenAI's GPT technology.