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22 March 2021
Portfolio Company Update: Lucyd Ltd.
Lucyd Signs Distribution Agreement with D. Landstrom Associates for LyteTM E-glasses
Tekcapital Plc (AIM: TEK), (OTCQB: TEKCF) the UK intellectual property investment group focused on investing in new, university-developed discoveries that can enhance people's lives, is very pleased to announce that portfolio company Lucyd Ltd., the wearable technology developer, has signed a distribution agreement with D. Landstrom Associates to build distribution of Lucyd "LyteTM" bluetooth e-glasses in North America. D. Landstrom Associates will seek to establish the distribution of Lucyd products with general merchandise and specialty big box stores such as Walmart, Target and Best Buy.
"We are thrilled to partner with Lucyd Eyewear to grow their innovative line of style-driven glasses with incredible sound. The first time you put them on you think, "wow these are comfortable, stylish, well-built glasses," and when you hear the sound for the first time you are absolutely blown away. Due to the stealthy design, you can't even tell that there are great-sounding speakers and a microphone built into the frame. We think the product is ready for a national roll-out and we are looking forward to trying to secure the onboarding of one or more major retail chains this year," said Shean Ferrell, CEO of D. Landstrom Associates.
Lucyd Lyte is prescription-ready Bluetooth® enabled eyewear for active lifestyles, that looks, feels and functions like designer eyeglasses, while enabling high utility smart features. Lyte offers one of the industry's leading streamlined designs in smart eyewear, coupled with an ultra-light weight of just 1.2-1.4 ounces, and a best-in-class playback per charge. Lyte e-glasses enable wearers to seamlessly play music, take phone calls and use voice assistants such as Siri® and Alexa®, while maintaining situational awareness with open-ear audio, and optional vision correction with expert-cut prescription lenses made by Lucyd. High-gloss acetate front plates enable stylish variants that further reduce the weight of the frames, a critical factor for optical wear. Lucyd Lyte features include:
Hi-fi Bluetooth® Audio
ü Connects to all Bluetooth devices, including phones, tablets, smartwatches and PCs.
ü Rapid pairing with Bluetooth 5.0 and automatic reconnection. Automatically seeks connection when removed from charger.
ü Clear sound quality for calls, music, podcasts and video conferencing.
ü Open-ear audio enables simultaneous connectivity and situational awareness.
Intuitive Touch Controls
ü Two simple buttons with tactile feedback to access a number of useful smart functions.
ü Answer calls, skip tracks, adjust volume and use voice assistants like Siri® by tapping your glasses.
ü Access core smartphone functions handsfree while looking up and staying engaged, including getting directions, sending money with Cashapp, checking stocks and more.
Additional features
ü Custom lens fulfillment, including complex and difficult prescriptions, direct from Lucyd. Most prescription orders ship same day.
ü IP56 Water Resistant (Splash and sweat proof)
ü 6.5-8 hours of playback time, 160 hours standby
ü Auto-off when Bluetooth disconnected
ü High-gloss acetate lens plates and arms
ü Use with smartwatch for full wearable experience
ü Featherlight fit at 1.25 oz. (wayfarer models) and 1.45 oz. (round models)
The E-Eyewear Market
Lucyd Lyte e-glasses are positioned at the intersection of the eyeglass, hearables and voice assistant markets. According to Fortune Business Insights, the eyewear market is projected to reach US$ 179 billion by the end of 2026 with a CAGR of 5.7%. According to Allied Market Research, the hearables market size is projected to reach US$ 93.9 billion by the end of 2026 with a CAGR of 17.2%. Over four billion voice assistant devices are currently in use worldwide with projected sales of $US 5.9 billion by 2026 with a CAGR of 30.5% according to VynZ Research.
Harrison Gross, Lucyd cofounder and CEO said, "We are very excited to be working with D. Landstrom Associates to launch the Lyte into national distribution. For more than 40 years, D. Landstrom Associates has built a reputation of introducing exciting new products into national retail stores. With more than 90 five-star reviews, Lyte is gaining significant ecommerce traction through our social media and influencer marketing, and we view brick and mortar distribution as a natural complement to this growth."
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 and IP portfolio are exclusively licensed to and operated by Innovative Eyewear, Inc. To learn more, or order Lucyd Lyte, please visit https://lucyd.co.
Tekcapital currently owns 100% of the share capital of Lucyd Ltd and approximately 78.1% of the share capital of its operating subsidiary, Innovative Eyewear, Inc.
For further information, please contact:
Tekcapital Plc | Via Flagstaff | |
Clifford M. Gross, Ph.D. | ||
SP Angel Corporate Finance LLP (Nominated Adviser and Broker) | +44 (0) 20 3470 0470 | |
Richard Morrison/Charlie Bouverat (Corporate Finance) Abigail Wayne / Rob Rees (Corporate Broking) | ||
Flagstaff Strategic and Investor Communications |
| +44 (0) 20 7129 1474 |
Tim Thompson/Andrea Seymour/Fergus Mellon |
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 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.