Portfolio Company Update Innovation Eyewear

RNS Number : 7188V

Tekcapital plc

11 April 2023

 

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11 April 2023

Tekcapital Plc

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

Innovative Eyewear, Inc. Launches

The First ChatGPT Enabled Smart Eyewear

Tekcapital Plc (AIM: TEK, OTCQB: TEKCF), the UK intellectual property investment group notes that Innovative Eyewear, Inc. ("Innovative Eyewear" or the "Company") (NASDAQ: LUCY; LUCYW), the developer and retailer of smart eyewear under the Lucyd®, Nautica®, and Eddie Bauer® brands, announces today that it has launched a new iOS/Android app called Lucyd. The Lucyd app enables a voice interface for ChatGPT on their smart eyewear.

The user can ask questions to ChatGPT through microphones already built into Lucyd glasses and hear the responses through their stereo speakers. The app is device agnostic and works with many other hearables, including, but not limited to, AirPods®¹. Additionally, the app may be used via a streamlined visual interface on any smartphone to enhance accessibility.

"We are excited to be the first company to provide ChatGPT enabled smart eyewear. With our new Lucyd app, which is free to our eyewear customers, we are continuing to make smart eyewear more accessible and functional than ever before," says Harrison Gross, CEO of Innovative Eyewear. "A great pair of smartglasses is defined by three key factors: fashion, tech, and suitability for all-day wear. The Lyte 2.0 collection successfully addresses these factors and now provides access to the world's most popular AI assistant. By connecting to ChatGPT with your voice on Lucyd smart eyewear, you can access a wealth of detailed research on just about any subject, making it one of the most powerful mobile learning systems available."

As recently announced, Lucyd Lyte® 2.0 eyewear is now available in 15 distinct styles, which Innovative Eyewear believes is the most of any smart eyewear on the US market. With the Lucyd app, all of these frames provide on-the-go access to ChatGPT. Lucyd smart eyewear makes it easy to use ChatGPT by combining the strength of a natural language AI bot with the natural ergonomic interface of speaking and listening on a handsfree wearable.

Download the beta version of the Lucyd app now and enjoy a free trial, or get it free when you Upgrade your Eyewear® at www.Lucyd.co .

Innovative Eyewear believes their new app may generate substantial revenue from both smart eyewear and app sales in future periods.

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 their mission to Upgrade Your Eyewear^®, their 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 .

Tekcapital currently owns 5,189,086 shares (approximately 67%) of Innovative Eyewear, Inc. 

Reference:

¹ Airpods® is a registered trademark of Apple Inc.

For further information, please contact:

Tekcapital Plc		Via Flagstaff
Clifford M. Gross, Ph.D.
SP Angel Corporate Finance LLP (Nominated Adviser and Broker)		[phone]
Richard Morrison/Charlie Bouverat (Corporate Finance)/Abigail Wayne / Rob Rees (Corporate Broking)
Flagstaff Strategic and Investor Communications		[phone]
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 .

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.

Photos courtesy of Innovative Eyewear Inc.

 

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