Tekcapital plc (AIM: TEK), the UK intellectual property (IP) investment group focused on creating marketplace value from university technology, is pleased to announce that Lucyd pte ltd ("Lucyd") has sold US$1.5m of Lucyd tokens during its on-going token generation event ("TGE"). This is the minimum level of funds to be raised under the TGE for it to proceed. The TGE will be completed on or before 28 February 2018, whereupon Tekcapital will update the market on the full proceeds Lucyd has received from the event. Lucyd pte ltd is a subsidiary of Lucyd ltd, a Tekcapital portfolio company.
Lucyd was established by Tekcapital in September 2017 to commercialize a portfolio of 13 optical technology patents exclusively licensed from the University of Central Florida, that are designed to enable ergonomic, augmented reality ("AR") 'smartglasses'.
Lucyd pte ltd has formed strategic alliances with nine companies to develop AR and security software for the smartglasses they are developing.
