TIDMTEK
RNS Number : 8525Y
Tekcapital plc
14 May 2019
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). With the
publication of this announcement via a Regulatory Information
Service ("RIS"), this inside information is now considered to be in
the public domain.
14 May 2019
Tekcapital Plc
("Tekcapital", the "Company" or "the Group")
Portfolio Company Update: Lucyd Launches Loud 2.0 Eyewear
Line
Tekcapital Plc (AIM: TEK), the UK intellectual property (IP)
investment group focused on creating marketplace value from
investing in university technology, is pleased to announce that
portfolio company Lucyd Ltd, the developer of an eShop for
innovative eyewear, has launched Loud 2.0, its new line of
prescription-ready Bluetooth(R) music glasses.
Lucyd's new collection offers 10 exclusive, fashion-forward
designs, coupled with more than 20 different types of proper
corrective lenses, all day battery life, and a host of useful
features.
Lucyd Loud correct your vision and are Bluetooth-enabled, making
it possible to listen to music, make phone calls and use voice
assistants from your prescription glasses. The voice assistant
function enables a number of useful apps to be used handsfree, such
as Uber(R) and Cashapp(R). It's perfect for cyclists, runners,
athletes and people on the go, because you can still hear what's
happening around you, while listening to your tunes and staying
connected. As a result of their bone conducting feature, they're
also great for any situation where you want your music, but don't
want to carry or use headphones.
The Market
Lucyd is positioned at the intersection of the online eyewear
and digital assistant markets. Online eyewear sales in the U.K. are
projected to reach $588m in 2019.(1) The U.S. online eyewear market
is projected to reach US$3.5b in 2019 and expected to grow annually
by 1.3% (CAGR 2019-2023)(2) . In the U.S., approximately eight
million pairs of prescription eyeglasses are sold online each
year.(3) Global use of digital assistants such as Siri(R), Google
Voice(R) and Alexa(R) is growing rapidly, and expected to reach
3.25b users in 2019 and 4b users in 2020.(4)
Harrison Gross, Co-founder at Lucyd said, "We are pleased to
announce the introduction of Loud 2.0 designer music glasses in 10
beautiful colours and patterns. We believe these new patent-pending
glasses set the standard for design, comfort and all day use for
prescription Bluetooth(R) specs, at an incredibly attractive
price."
About Lucyd
The mission of Lucyd is to enhance the visual experience. Lucyd
is pioneering a new market for prescription-ready, tech-enhanced
glasses, and operates an eShop for innovative eyewear. To learn
more please visit https://lucyd.co.
Dr Clifford Gross, Chairman at Tekcapital commented: "We are
delighted to see the continuing progress of Lucyd with their launch
of Loud 2.0. We believe that Lucyd is well positioned to see growth
of its products in the new segment it has pioneered -- online
prescription eyewear that enables the use of digital
assistants."
For further information, please contact:
Tekcapital Plc Via Yellow Jersey PR
Clifford M. Gross, Ph.D.
finnCap Ltd (Nominated Adviser and
Joint Broker) +44 (0) 20 7220 0500
Geoff Nash/ Max Bullen-Smith (Corporate
Finance)
Camille Gochez (ECM)
Novum Securities Limited (Joint
Broker) +44 (0) 20 7399 9427
Colin Rowbury (Corporate Broking)
Yellow Jersey Limited +44 (0) 20 7933 8780
Tim Thompson / Annabel Atkins tekcapital@yellowjerseypr.com
About Tekcapital plc
Tekcapital creates value from investing in new,
university-developed intellectual properties and provides a range
of IP investment services to make it easy for organisations to
commercialise university-developed technology. Tekcapital is quoted
on the AIM market of the London Stock Exchange (AIM: symbol TEK)
and is headquartered in Oxford, in the UK. For more information,
please visit www.tekcapital.com
LEI: 213800GOJTOV19FIFZ85
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's 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 Tekcapital or Lucyd may
vary materially from those described explicitly or implicitly in
the relevant forward-looking statement. Neither Tekcapital nor
Lucyd intends, nor assumes any obligation, to update or revise
these forward-looking statements in light of developments which
differ from those anticipated.
References
(1)
https://www.statista.com/outlook/12000000/156/eyewear/united-kingdom
(2)
https://www.statista.com/outlook/12000000/109/eyewear/united-states
(3)
https://www.forbes.com/sites/richardkestenbaum/2018/04/24/online-eyeglasses-has-explosive-growth-ahead-of-it/#1710cf9627c8
(4)
https://www.statista.com/statistics/973815/worldwide-digital-voice-assistant-in-use/
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contact rns@lseg.com or visit www.rns.com.
END
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