Portfolio Company Update

RNS Number : 9685D

Tekcapital plc

15 October 2018

 

15th October 2018

Tekcapital plc

("Tekcapital" or the "Company")

Portfolio Company Update

Tekcapital plc, (AIM: TEK) the UK intellectual property investment group focused on creating marketplace value from university technology, announces that its wholly owned portfolio company Lucyd ltd has formed a reseller partnership with a Brazilian optical retailer and has conducted its first order.    

This is a unique opportunity for Lucyd to expand its eyeglass offerings into the large Brazilian market. This distributor has purchased an initial order for 100 pairs of Lucyd Loud Bluetooth, bone-conducting glasses, which they will be selling on their own online eyewear store which will primarily serve Brazil, Mexico, Colombia and Chile.

Harrison Gross, Media Lead at Lucyd said, "We are very excited to announce signing our first distributor for our innovative eyewear lines. We believe that that our partnership will facilitate sales of products in Latin America and will be mutually beneficial in the long term."

Lucyd operates an exciting eShop that develops and provides advanced eyewear to enhance the visual experience. To learn more please visit https://lucyd.co.

Clifford M. Gross Ph.D., Chief Executive Officer of Tekcapital plc commented:

"We are glad to view Lucyd's continued progress as it approaches its first anniversary since we established the Company last year. According to Statista, the online market for eyewear will deliver approximately $3.8b in sales in 2018. Lucyd has developed a very competitive footprint in this market with advanced eyewear to meet the needs of technological as well as fashion forward customers. We believe that Lucyd's unique features and products compare favorably with some of the most successful and respected names in the industry."

For further information, please contact:

Tekcapital plc Clifford M Gross, Ph.D.		Via Walbrook PR
finnCap Ltd (Nominated Adviser and Joint Broker)		[phone]
Geoff Nash (Corporate Finance)
Max Bullen-Smith (Corporate Finance)
Camille Gochez (ECM)
Novum Securities (Joint Broker) Colin Rowbury	[phone]
Walbrook PR Ltd	[phone]
Paul Cornelius / Nick Rome / Sam Allen			[e-mail]

Tekcapital plc - The World's Largest University Network for Open Innovation

Tekcapital's objective is to create value from investing in new, university-developed intellectual properties. Additionally, using its proprietary discovery search engine, linked to 4,500+ universities in 160 countries, coupled with expert scientific review, Tekcapital provides a range of IP investment services to make it easy for organisations to find, evaluate, acquire and license university-developed technology. Tekcapital plc 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.

 

END

 

 

NRAGGGGGUUPRGBC