Business
Lucyd Launches Loud 2.0 Eyewear Line
Lucyd Launches Loud 2.0 Eyewear Line.
About this update from Tekcapital Plc
[{"type":"text","content":"\n \nRNS Number : 8525Y Tekcapital plc 14 May 2019 \n\n \n \nThe 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.\n14 May 2019\nTekcapital Plc\n(\"Tekcapital\", the \"Company\" or \"the Group\")\nPortfolio Company Update: Lucyd Launches Loud 2.0 Eyewear Line \n \nTekcapital 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® music glasses. \nLucyd'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. \nLucyd 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® and Cashapp®. 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. \n \nThe Market\nLucyd 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®, Google Voice® and Alexa® is growing rapidly, and expected to reach 3.25b users in 2019 and 4b users in 2020.4\n \nHarrison Gross, Co-founder at...