Business
Portfolio Company Lucyd Update
Portfolio Company Lucyd Update.
About this update from Tekcapital Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 2240U\n Tekcapital plc\n 01 April 2021\n \n \n \n \n \n \n \n \n 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.\n \n \n \n \n \n 1 April 2021\n \n \n \n \n \n Portfolio Company Update: Lucyd Ltd.\n \n \n Lucyd Ltd Crowdfund Fully Subscribed with 3,800 Investors\n \n \n \n \n \n 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.\n \n \n 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. \n \n \n In addition, Lucyd has just been granted a \n \n utility patent\n \n 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. \n \n \n \n Harrison Gross, Lucyd co-founder and CEO\n \n 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.\"\n \n \n About Lucyd and Innovative Eyewear Inc.\n \n \n Lucyd's mission is to Upgrade your Eyewear®with advanced...