TekCapital Regulatory News (TEK)

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). With the publication of this announcement via a Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.

6 January 2021

Portfolio Company Update

Lucyd Ltd. ("Lucyd") Reaches Crowdfund Target and Launches New LyteTM E-glasses

Lucyd, the smart eyewear and wearable software developer, has surpassed its US$400,000 crowdfund goal for its subsidiary Innovative Eyewear Inc., and due to on-going investor interest is continuing with the raise up to approximately US$600,000. Additionally, the Company is excited to announce the launch of Lucyd® Lyte™. Lucyd Lyte ("Lyte") is tech-enhanced, prescription eyewear for active lifestyles, that look and feel like designer fashion frames. Lyte represents an industry leading form-factor for tech glasses, coupled with the miniaturization of components and extended battery life. Lyte e-glasses enable wearers to seamlessly play music, take phone calls and chat with their phone's assistant while maintaining situational awareness with open-ear technology. High-gloss acetate front plates enable stylish, clear front variants that further reduce the weight of the frames which is important for all-day wear. Lucyd Lyte features include:

Hi-fi Bluetooth® Audio

· Connects to all Bluetooth devices, including phones, tablets, smartwatches and PCs.

· Rapid pairing with Bluetooth 5.0 and automatic reconnection. Automatically seeks connection when removed from charger. 

· Clear sound quality for calls, music and podcasts.

· Open-ear audio enables simultaneous connectivity and situational awareness.

Intuitive Touch Controls

· Two simple buttons with tactile feedback to access a number of useful smart functions.

· Answer calls, skip tracks, adjust volume and use voice assistants like Siri® by tapping your glasses.

· Access core smartphone functions handsfree while looking up and staying engaged with 25+ lens options.

Additional features

· Custom lens fulfillment, including complex and difficult prescriptions, direct from Lucyd

· IP56 Water Resistant (Splash-proof)

· 6.5 hours of playback time, 160 hours standby Auto-off when Bluetooth disconnected

· High-gloss acetate lens plates and arms

· Use with smartwatch for full wearable experience

· Featherlight fit at 1.25 oz. (wayfarer models) and 1.45 oz. (round models)

Harrison Gross, Lucyd cofounder and CEO said, "It's not just about expanding our technology, but having the technology seamlessly connect to ourselves. The new Lucyd Lyte collection is style leading, comfortable to wear all day, affordable and will work with our forthcoming Vyrb™ application, bringing true voice interaction to select social media platforms." 

Richard Sherman, American football star and Lucyd Brand Ambassador stated, "I think everyone should be excited about Lucyd because it's been a pioneer in the eyewear space; this technology's transcendent. Lucyd is ahead of the curve."

To-date, Lucyd has sold more than 2,000 pairs of glasses and believes that the new Lyte line has the potential for mass market adoption due to its advanced design, designer eyeglass form-factor and affordable pricing. Proceeds from the Crowdfund are being utilized to develop the Lyte line and the Vyrb social media application.

Tekcapital currently owns 100% of the share capital of Lucyd ltd and approximately 89.7% of the share capital of its subsidiary Innovative Eyewear, Inc.

About Lucyd and Innovative Eyewear Inc.

Lucyd's mission is to Upgrade your Eyewear® with advanced ergonomic frames that are easy to use, fun to wear, and help you stay safely connected to your digital life. The Lucyd brand is exclusively licensed to and operated by Innovative Eyewear, Inc. To learn more, or order Lucyd Lyte, please visit https://lucyd.co. 

For further information, please contact:

About Tekcapital plc

Tekcapital creates value from investing in new, university-developed intellectual properties and provides a range of IP investment services to make it easy for organisations to commercialise university-developed technology. 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.

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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 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 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 Lucyd and/or Tekcapital may vary materially from those described explicitly or implicitly in the relevant forward-looking statement. Neither 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.