Portfolio Company Update:

RNS Number : 6869H

Tekcapital plc

26 March 2020

 

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.

26 March 2020

Tekcapital Plc

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

Portfolio Company Update:

LUCYD Files Patent for Voice Control App for Smartglasses

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 its wholly owned portfolio company Lucyd Ltd, the developer of smartglasses and an eShop for advanced eyewear, has filed a new patent and a trademark on its forthcoming Vyrb™ app.

Vyrb users will be able to activate a world of smartphone actions with their voice in just moments, including social media posting, with Vyrb's flexible and intuitive user experience. By using the app along with Lucyd Bluetooth ^® glasses, the user can spend less time looking at their phone, and keep more of their focus on the real world. This is especially pressing given the rise in pedestrian fatalities due to smartphone distraction¹.

Lucyd is targeting release of the app in December 2020.

Harrison Gross, CEO and Co-founder of Lucyd said: "We are thrilled to announce our development of Vyrb, an app that can truly improve the way we access and share information. The voice is the easiest and most natural medium we have to interface with others and our devices, and we believe Vyrb will be a significant improvement to voice assistants, adding value to the billions of them already in use," said Harrison Gross, CEO and Co-founder at Lucyd.

Dr Clifford Gross, Executive Chairman at Tekcapital, commented: "We are glad to see Lucyd continue its innovation in the smart eyewear industry with its novel Vyrb™  app. We believe their new app will increase the utility of Lucyd Bluetooth^® glasses and wireless "hearables" like Airpods^®. It may also improve the safety of pedestrians and cyclists by enabling them to use their voice to create and respond to Twitter^® and Facebook^® posts, while keeping their eyes on the road."

About Lucyd  

The mission of Lucyd is to Upgrade Your Eyewear^®. 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 .

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

For further information, please contact:

Tekcapital Plc		Via Flagstaff IR
Clifford M. Gross, Ph.D.
SP Angel  Corporate Finance LLP  (Nominated Adviser and Joint Broker)		[phone]
Richard Morrison / Charlie Bouverat (Corporate Finance)
Novum Securities Limited (Joint Broker)		[phone]
Colin Rowbury (Corporate Broking)

Flagstaff Strategic and Investor Communications    [phone]

Tim Thompson/Andrea Seymour/Fergus Mellon 

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 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 Lucyd and/or Tekcapital may vary materially from those described explicitly or implicitly in the relevant forward-looking statement. Neither 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.

Notes:

¹   https://www.npr.org/2019/03/28/706481382/why-pedestrian-deaths-are-at-a-30-year-high

 Vryb^TM is a pending trademark of Lucyd ltd.

 

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