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Tekcapital's portfolio company Lucyd to launch new Lucyd Lyte Smartglasses

14:03, 22nd July 2020
Francesca Morgan
RNS Newswire

Tekcapital’s (AIM: TEK) FOLLOW wholly owned portfolio company, Lucyd, has received notice of allowance for 13 previously filed patents, and has filed two new patents, covering their forthcoming Lucyd Lyte Bluetooth® audio glasses. 
As a result, the UK intellectual property group said that Lucyd's, total IP position now consists of 24 patents (13 allowed design patents & 11 applications) which includes three pending utility patents, and eight pending design patents. 
The group’s manufacturing partner has just completed the first Lucyd Lyte beta production models, dubbed "Darkside" and 'Moonshot,”which is set to launch in late September 2020. 
Lucyd expects to have the initial batch of the Lucyd Lyte beta units next week, and will begin beta testing with its network of tech and fashion influencers, and Lucyd eyewear fans. 
Shares in Tekcapital were trading 3.96% higher at 10.5p on Wednesday morning. 

TEK price chartMeanwhile, Lucyd also announced that it has established a new U.S. subsidiary called Innovative Eyewear, Inc. which is focused on making and selling Lucyd branded products.  
Innovative Eyewear has recently launched an equity crowdfund on StartEngine, seeking to raise $400,000 at a pre-money valuation of $3.75m - a significant increase over the $1.29m valuation recorded for Lucyd, Ltd. in 2019.  - and oOver 275 investors have already subscribed. 
"We are extremely excited about our new Lucyd Lyte product, as it personifies our goal to produce fashionable, prescription tech eyewear that you can wear all day as your go-to glasses," said  Harrison Gross, Chief Executive Officer and Co-founder of Lucyd. 
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