Tekcapital releases report boasting record total revenue
Anita Riotta
Company News- 3 min read
11:28, 22nd August 2019

Tekcapital (TEK) FOLLOW has released its report for H1 2019, boasting “record total revenue” that jumped from $1.28 million in 2018 to $5.4 million.

Chairman Dr. Clifford Gross believes such growth was attained through the company’s “unique approach of acquiring and commercialising university IP innovations, coupled with providing a range of IP services continues to deliver strong returns on invested capital.”

The report also featured a 27% increase in net assets to $20.53 million as well as a 36% reduction of cost of sales.

In effect, each of the Tekcapital’s portfolio companies did underpin the company’s overall surge in revenue. 

Salarius, a 97.5% TEK-owned food technology company, launched industrial production of MicroSalt and secured their first snack food customer. Lucyd, 100% owned by Tekcapital, signed Richard Sherman, NFL star, as Chief Brand Officer and launched Loud 2.0 Bluetooth designer eyeglasses.

Guident, TEK’s 100% owned company providing software solutions for autonomous vehicles, filed a US patent and finalized its go-to-market plan. Belluscura, 21.7% owned by TEK, has reported it is likely to receive FDA clearance in H1 2020 for its patented portable oxygen concentrator.

Looking towards the rest of 2019, Tekcapital seems to be ready to double down on its proven strategy.

For more news and updates from Tekcapital: FOLLOW

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