Lucyd Ltd Crowdfund Fully Subscribed with 3,800 Investors
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 pleased to announce that portfolio company Lucyd Ltd has closed its fully-subscribed Regulation Crowdfund. The crowdfund, conducted by Lucyd’s U.S. subsidiary Innovative Eyewear, Inc., attracted 3,800 investors who contributed $1,070,000. This was the maximum allowable amount for this type of equity offering.
The crowdfunding round was beneficial to Lucyd, by introducing the Lucyd brand to thousands of new individuals, funding Lucyd Lyte™ e-glasses and Vyrb™ app development, and providing Lucyd with a large community for beta testing of its new products.
In addition, Lucyd has just been granted a utility patent from the United States Patent and Trademark Office, for a software system designed to manage multiple wearables and IOT devices. This technology, combined with Lucyd’s patent-pending e-glasses, enhances the company’s intellectual property position in the emerging wearables market.
Harrison Gross, Lucyd co-founder and CEO said, “We are very pleased to report that our crowdfund was successful. The results clearly demonstrate a strong investor appetite for the Lucyd brand and confidence in the growth of our market position. This effort provided us with a strong contingent of brand advocates, customers and affiliates who support Lucyd on an ongoing basis. With 3,800+ new shareholders, we are better positioned than ever to bring smart eyewear mainstream.”
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 75% of the share capital of its operating subsidiary, Innovative Eyewear, Inc. Post-money valuation of Innovative Eyewear of U$4.82m results in valuation of shares held by Lucyd Ltd at US$3.62m.
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.
