RCS - Tekcapital plc - Launch of Lucyd Lyte 2.0 Smart Eyewear

TekcapitalAnnouncement

07/02/2023 07:00

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RNS Number : 0223P  Tekcapital plc  07 February 2023

7 Feb 2023

Tekcapital Plc

("Tekcapital", the "Company" or the "Group")

Innovative Eyewear, Inc. Launches Lucyd Lyte 2.0 Smart Eyewear

 

Tekcapital Plc (AIM: TEK, OTCQB: TEKCF), the UK intellectual property
investment group notes that Innovative Eyewear, Inc. ("Innovative Eyewear")
(NASDAQ: LUCY; LUCYW), the developer and retailer of smart eyewear under the
Lucyd®, Nautica® and Eddie Bauer® brands, has announced the launch of Lucyd
Lyte 2.0, ("Lyte 2.0") a major upgrade to its flagship Lucyd Lyte audio
eyewear platform.

 

The new Lucyd Lyte 2.0 line brings several advances to the company's core
product and is available now, in any optical prescription, at Lucyd.co. The
Company intends to introduce the product to optical and specialty retail
chains worldwide. The Lyte 2.0 marks the culmination of years of R&D to
realize the company's mission to make smart eyewear more accessible, useful
and stylish for the optical and sunglass markets. New features of the Lyte 2.0
are as follows below:

·    A four-speaker array provides immersive open-ear audio, that matches
the sound quality of traditional earbuds without obstructing your hearing. The
new speaker system provides an enhanced mid-range and bass response compared
to the previous Lucyd Lyte.

·    Audio input is improved with the introduction of dual
noise-cancelling microphones. The Lyte 2.0 is ideal for recording audio
content such as podcasts and voice messages and improves the fidelity of phone
calls and input for voice assistants like Siri® compared to most built-in
smartphone microphones.

·    The battery life of the glasses has been improved to 12 hours of
music playback and call time per charge, a 50% uplift over the previous model.

·    The collection boasts 15 trending eyewear styles crafted by an
experienced eyewear design team. 10 styles are available now, with the
remaining five in pre-order until their expected availability in March 2023.

·    The collection includes optical frames designed specifically for
women and petite heads, as part of the company's initiative to develop smart
eyewear for all head shapes and sizes.

·    The power and pairing indicator LEDs have been moved to a more
discreet location in the inner temple.

·    Touch controls now give an audible signal whenever the user adjusts
volume or uses the other button functions, such as activating the voice
assistant.

·    Two new custom hinge types to enable a stronger, more aesthetically
pleasing connection from the frontplate to the smart temple.

·    Strength of the magnetic charging connection is improved, and the new
collection is backwards compatible with the existing Lucyd Dock charger
introduced with the original Lyte.

·    The glasses use Bluetooth 5.2, providing improved connection
stability over the previous 5.1 model.

·    The glasses are offered with a new selection of over 20 custom lenses
on Lucyd.co, now including gradient sunglasses and the latest cutting-edge
Transitions® XTRActive Polarized and Signature Colors lenses.

·    All of these features are added whilst maintaining price parity with
traditional eyeglasses.

 

"Simply put, we believe there is no smart eyewear on the market that is as
bold, beautiful and functional as the Lucyd Lyte 2.0," says Harrison Gross,
CEO of Innovative Eyewear. "We are in a unique place in history, where
time-tested devices like the wristwatch and eyeglasses are being reimagined as
onramps into our digital lives. I am grateful and amazed that my team was able
to develop smart eyewear that truly delivers on the promise of wearables to
make many forms of data and mobile computing easier to access, more natural
and seamless. Unlike many companies that produce smart eyewear alongside
dozens or hundreds of other products, we are singularly focused on this
emerging category to make it useful and exciting for the consumer. I encourage
everyone to upgrade their eyewear® with the Lyte 2.0, to see and hear the
difference that years of thoughtful and rigorous development on a single core
concept can make."

Watch a video of the new glasses here (https://youtu.be/MPfZDRrF9Ps) .

About Innovative Eyewear, Inc.

Innovative Eyewear is a developer and retailer of cutting-edge smart eyewear,
under the Lucyd(®), Nautica(®) & Eddie Bauer(®) brands. True to our
mission to Upgrade Your Eyewear(®), our Bluetooth audio glasses allow users
to stay safely and ergonomically connected to their digital lives, and are
offered in hundreds of frame and lens combinations to meet the needs of the
optical market. To learn more and explore our continuously evolving collection
of smart eyewear, please visit www.lucyd.co (http://www.lucyd.co) .

 

Tekcapital currently owns 5,189,086 shares (approximately 71%) of Innovative
Eyewear, Inc.

--

Photos and images courtesy of Innovative Eyewear Inc.

For further information, please contact:

 

 Tekcapital Plc                                                                                          Via Flagstaff
 Clifford M. Gross, Ph.D.

 SP Angel Corporate Finance LLP                                                                          +44 (0) 20 3470 0470

 (Nominated Adviser and Broker)
 Richard Morrison/Charlie Bouverat (Corporate Finance)/Abigail Wayne / Rob Rees
 (Corporate Broking)

 Flagstaff Strategic and Investor Communications                                                         +44 (0) 20 7129 1474
 Tim Thompson/Andrea Seymour/Fergus Mellon

 

 

 

 

 

 

 

 

 

 

 

 

 

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 (http://www.tekcapital.com) .

 

LEI: 213800GOJTOV19FIFZ85

Forward-Looking Statements

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 Innovative Eyewear, Inc., 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, Innovative Eyewear Inc. 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 Innovative Eyewear
Inc., Lucyd and/or Tekcapital may vary materially from those described
explicitly or implicitly in the relevant forward-looking statement. Other than
as required by relevant regulation or law,  neither Innovative Eyewear Inc,
Lucyd nor Tekcapital intends, nor assumes any obligation, to update or revise
these forward-looking statements in light of developments which differ from
those anticipated.

 

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