Tekcapital’s Portfolio Company Lucyd to take the Market by Storm with Its New Smartglasses Coupled with Voice-controlled Social Media App

  • Jul 14, 2020 BST
  • Team Kalkine
Tekcapital’s Portfolio Company Lucyd to take the Market by Storm with Its New Smartglasses Coupled with Voice-controlled Social Media App

Tekcapital PLC (LON: TEK) is an intellectual property investment group based in the United Kingdom. The stocks of the company are listed on the FTSE AIM All-Share index of the London Stock Exchange (LSE) since 2014. The company’s aim is to create market value through University Technology. Operating across a network of over 4,500 universities and research centres in 160 countries, the company seeks to achieve its objectives by acquiring, enhancing, and developing new university discoveries and by assisting its university clients in commercialising their new discoveries.

Tekcapital’s diversified portfolio companies consist of Belluscura plc, Lucyd Ltd, Salarius Ltd, Guident Ltd and Smart Food Tek Ltd. Whilst each of these companies has a unique, proprietary technological focus, they all strive to make a meaningful impact of people’s lives by reducing the likelihood of injury and illness and enhancing the quality of life.

About Lucyd Ltd.

Founded in 2017, Lucyd’s mission is to Upgrade your eyewear ® with new technological features. By delivering beautiful and affordable glasses, it helps customers protect their vision and remain safely connected to their digital lives. In the US, every seven minutes a pedestrian or cyclist is struck by a vehicle. This is primarily because both drivers and pedestrians alike are often distracted by their smartphones. With Lucyd’s Bluetooth glasses customers can maintain situational awareness by looking straight ahead and using their voice to take calls and interact with their phones without removing them from their pockets. Additionally, with small speakers in the arms of the glasses users can listen to music and take calls without having anything in their ears, enabling them to hear surrounding traffic.   Lucyd Ltd is 100 per cent owned by TekCapital.

To develop a base of its operations in the United States, Lucyd has established a subsidiary called Innovative Eyewear, Inc.  To keep pace with the changing retail landscape due to Covid 19, the company is aggressively expanding its online direct-to-consumer efforts, making its smartglasses conveniently available to its consumers on its website, Amazon and Walmart.com.

Lucyd became the first company in the world to deliver prescription smartglasses, to over 100 countries. It was also the market leader in designing a line of smartglasses in ten patterns, thereby becoming a top innovator in the space, in advanced of some of the more significant and better-financed companies in the space.

Lucyd has been successful in developing pioneering unique products:

  • Loud 2020 was launched in January 2020, in seven variants along with the Bluetooth 5.0 chipset. The new smart glasses are not only equipped with a microphone and speakers, allowing users to answer and control phone calls, listen to music and accessing voice assistants.
  • Lucyd Loud provides a great experience for listening to audio content, capable of delivering a more contented and discreet listening experience when compared with traditional headphones.

 

Innovative product pipeline

  • Lucyd has already begun the development of the Vyrb™ vocal media app for iPhone and Android, which is slated to be launched in December 2020. The company believes that it will make many digital tasks voice-assistant accessible and allow the user to craft new voice commands. It will enable the user listen and respond to social media posts with their voice. A US patent and trademark for the same has been filed.
  • Innovative Eyewear is currently in the process of developing a new product frame called Lucyd LyteTM, which is supposed to be delivered by the end of September2020. Lyte will be the first Bluetooth eyewear that will truly meet the standard spectacle form factor. Initially, it will be made available in three variants and is expected to be priced at about $119 in sunglass format and will be available in prescription lenses for a $35 upcharge.

(Lucyd Lyte ™ photo courtesy of Innovative Eyewear, Inc.)

The Market for Bluetooth Eyewear

The current online market for eyewear is around US $3.8b according to Statista. In 2017, approximately eight million pairs of prescription eyeglasses were sold online in the U.S. which is about 4.2% of the total prescription eyeglass market.

Outlook

By developing and launching Lucyd Lyte and Vyrb together, Innovative Eyewear aims to create a unique wearable computing experience that is flexible, powerful, and completely voice accessible, with the hope of becoming successful in the eyewear market. Lucyd in a short span of two and half years’ time has made remarkable progress with the development of three new product lines of smart eyewear, filing of four new utility patents and seventeen design patents, 13 of which have been recently allowed by the USPTO.  Now together with its Innovative Eyewear, Inc, subsidiary, the company is all set to scale the next stage of development.

Tekcapital PLC's Stock Price Performance

As on July 14, 2020, Tekcapital PLC's stock price was trading at GBX 9.85, up by 3.68% (15:18 PM GMT) from the previous closing. The 52 weeks low range has been recorded at GBX 4.00 and the 52 weeks high range has been recorded as GBX 20.00. The company's market capitalisation (Mcap) at the time of reporting stood at a modest around GBP 8.50 million. It has delivered a positive return on the price of 90 per cent on a year to date basis.

(Source: Thomson Reuters)

 


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The website https://kalkinemedia.com/uk is a service of Kalkine Media Ltd, Company Number 12643132. The article has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. The above article is sponsored but NOT a solicitation or recommendation to buy, sell or hold the stock of the company (or companies) or engage in any investment activity under discussion. We are neither licensed nor qualified to provide investment advice through this platform.

 

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