TekCapital Regulatory News (TEK)

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6 Feb 2023

Tekcapital Plc

("Tekcapital", the "Company" or the "Group")

Innovative Eyewear, Inc. Announces New Features for its Vyrb™ Social Audio App

Tekcapital Plc (AIM: TEK, OTCQB: TEKCF), the UK intellectual property investment group notes that Innovative Eyewear, Inc. ("Innovative Eyewear") (NASDAQ: LUCY; LUCYW), the developer and retailer of smart eyewear under the Lucyd®, Nautica® and Eddie Bauer® brands, is pleased to announce major developments in its Vyrb social audio app, which is in open beta on iOS and Android.

Vyrb is a full social media platform designed for wearables, which offers a suite of tools for creating, sharing and enjoying audio content in a frictionless, handsfree format. Whilst it offers a complete visual interface, the app provides a set of unique handsfree social utilities accessed through voice assistants like Siri®. The company has just completed a powerful new live broadcasting feature called "On Air", which enables users to create real-time audio chatrooms with up to 100 visitors and multiple active speakers. The company believes this feature will be a useful tool for audio content creators and collaborative work.

"Lucyd Eyewear is not simply another smartglass, it is an evolution in optical eyewear that makes it easier than ever to create and consume audio content," says Innovative Eyewear CEO Harrison Gross. "We are supporting our hardware platform with audio-focused software to enable seamless communication, content generation and social interaction on our frames as well as other wearables. The introduction of the On Air feature to our Vyrb app is a milestone where we have enhanced the popular and useful real-time chat functionality found in other social apps, by adapting it to an ecosystem purpose-built for wearable communications. Now, Vyrb users will be able to communicate with an expansive team and host live audio events with large audiences. After a user concludes an On Air session, they have the option to save a recording of it on their Vyrb profile and share to other platforms."

In addition to the On Air feature, Vyrb's latest release includes an audio upload feature that allows users to port audio files they created outside of Vyrb into the app, mix in sound effects, and share to their profile. This feature enables content creators to quickly upload their audio content library into Vyrb.

Download Vyrb™ on iOS/Mac and Android to explore the beta app. Watch a video of Vyrb in action here.

About Innovative Eyewear, Inc.

Innovative Eyewear is a developer and retailer of cutting-edge smart eyewear, under the Lucyd®, Nautica® & Eddie Bauer® brands. True to our mission to Upgrade Your Eyewear®, our Bluetooth audio glasses allow users to stay safely and ergonomically connected to their digital lives, and are offered in hundreds of frame and lens combinations to meet the needs of the optical market. To learn more and explore our continuously evolving collection of smart eyewear, please visit www.lucyd.co.

Tekcapital currently owns 5,189,086 shares (approximately 71%) of Innovative Eyewear, Inc. 

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About Tekcapital plc

Tekcapital creates value from investing in new, university-developed discoveries that can enhance people's lives and provides a range of technology transfer services to help organisations evaluate and commercialise new technologies. Tekcapital is quoted on the AIM market of the London Stock Exchange (AIM: symbol TEK) and is headquartered in the UK. For more information, please visit www.tekcapital.com.

LEI: 213800GOJTOV19FIFZ85

Forward-Looking Statements

This press release is for informational purposes only. The information herein does not constitute investment advice nor an offer to invest and may contain statements related to our future business and financial performance and future events or developments involving Innovative Eyewear, Inc., Lucyd or Tekcapital that may constitute forward-looking statements. These statements may be identified by words such as "expect," "look forward to," "anticipate" "intend," "plan," "believe," "seek," "estimate," "will," "project" or words of similar meaning. We may also make forward-looking statements in other reports, in presentations, in material delivered to customers, stakeholders and in press releases. In addition, our representatives may from time to time make oral forward-looking statements. Such statements may be based on the current expectations and certain assumptions of Tekcapital, Innovative Eyewear Inc. or Lucyd's management. Please note that these are subject to a number of risks, uncertainties and factors, including, but not limited to those described in various disclosures. Should one or more of these risks or uncertainties materialize, or should underlying expectations not occur or assumptions prove incorrect, actual results, performance or achievements of Innovative Eyewear Inc., Lucyd and/or Tekcapital may vary materially from those described explicitly or implicitly in the relevant forward-looking statement. Other than as required by relevant regulation or law, neither Innovative Eyewear Inc, Lucyd nor Tekcapital intends, nor assumes any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated.