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Tekcapital #TEK – Portfolio Companies Update

Tekcapital Plc (AIM: TEK), the UK intellectual property investment group is pleased to provide a summary of latest developments across certain of its portfolio companies. 


Belluscura plc (“Belluscura” AIM: BELL), announced on 16 August 2023 it has received purchase orders for over 6,500 of its next-generation DISCOV-R portable oxygen concentrator. This represents approximately US$15 million of potential revenue to Belluscura plc, as estimated by its management team. The recent purchase orders follow the signing of several distribution agreements with medical device distributors and other home healthcare providers, including a distribution agreement with a division of McKesson, one of the largest distributors of pharmaceuticals and medical devices in North America, earlier this month and a marketing agreement with GoodRx®, a leading digital healthcare platform, in February 2023. Belluscura has received multiple additional requests from leading oxygen homecare providers in the US to distribute the DISCOV-R. 

Tekcapital owns 15,138,767 shares of Belluscura plc (11.16%).


MicroSalt Ltd (“MicroSalt”) has been making steady progress towards its planned IPO. Advanced discussions with commercial partners including key players in the snack food industry are taking place in order to launch multiple products using Microsalt this year, with purchase orders anticipated in short order. MicroSalt has also demonstrated good traction in the B2C segment, with:

–     two new partners based in the Philippines – Healthy Options and S&R Membership Shopping placing commercial orders for SaltMe!® Crisps; and

–     expanding its US retail footprint for its low-sodium, full-flavour saltshakers by 131 stores as announced in June 2023.

Tekcapital owns 97% of the share capital of MicroSalt Ltd. and 6,034,683 shares (78%) of MicroSalt Inc., its U.S. subsidiary.

Innovative Eyewear

Lucyd Ltd (“Lucyd”) and its US subsidiary, Innovative Eyewear Inc announced a multi-year, global licensing agreement with Authentic Brands Group for Reebok® Smart Eyewear. Lucyd believe this represents a significant accomplishment towards revolutionizing the sport eyewear segment with the convenient access to info and audio content and freedom from reliance on phone screens made possible by its Bluetooth frame technologies.

In June 2023, Lucyd conducted a successful secondary offering to raise the capital (US$4.7m) needed to launch smart eyewear collections under its new Nautica, Eddie Bauer and Reebok partnerships, and its forthcoming Bluetooth safety eyewear. Both the Nautica Powered by Lucyd line and its Lucyd Safety smart eyewear line are expected to be launched in Q4 2023. The Eddie Bauer and Reebok Powered by Lucyd lines are expected to launch in early Q1 2024. 

The proceeds received from the recent fundraise will be used to manufacture and market all four of these new product lines, as well as make further enhancements to the Lucyd app. At the same time, Lucyd has announced in the last few months:

–     new transitional blue light blocking lens designed to maximize utility, eye protection and user satisfaction of Lucyd eyewear.

–     a significant update to the Lucyd App, its patent-pending, voice-controlled onramp to ChatGPT for smart eyewear. This includes the development of an improved user experience, new tools and prompts to help the user get the most out of ChatGPT, a streamlined onboarding experience, and a premium subscription with unlimited access to ChatGPT and additional premium features

–     a new modular retail display system which has so far been deployed in about 20 partner locations, providing an immersive Lucyd brand experience with a 10″ video screen.

A display of sunglasses on display Description automatically generated 

Tekcapital currently owns 5,189,086 shares of Innovative Eyewear, Inc. (approximately 40%).

The Company intends to provide an update on Guidant’s recent commercial and operational progress in due course. 

For further information, please contact:


Tekcapital Plc 

Via Flagstaff

Clifford M. Gross, Ph.D. 

SP Angel Corporate Finance LLP

(Nominated Adviser and Broker)

+44 (0) 20 3470 0470 

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.



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 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. 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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