Intellectual property investment group Tekcapital PLC (LON:TEK) said its wholly-owned portfolio company Lucyd has filed five new patents and a trademark on its soon-to-be-launched line of Bluetooth audio glasses (pictured).
The five patent filings cover the upcoming Lucyd Loox line of glasses. The range will include the ability to quickly switch the front plate (the eyeglass frame) from the electronic arms.
This easy option to change plate style and functionality should “dramatically” enhance affordability, Tekcapital said.
For example, for prescription wearers, new plates will also be available at a lower price than a full new frame, allowing customers to quickly switch between blue light blocking lenses, sunglass and other lenses according to their need, it added.
Lucyd has filed four design patents and one utility patent covering “several unique hinge mechanisms and front frame combinations that allow the front plate exchange to be done in seconds without any tools”, investors were told.
“In addition, we believe Lucyd's intellectual property will enable their planned implementation of GaaS (Glasses-as-a-Service) system, where customers can update the look of their glasses with new front plates anytime for a small monthly fee,” Tekcapital said.
“This GaaS system will also offer tiered insurance levels for the glasses, shopwide discounts on new products and enhanced commissions in Lucyd's cash-back referral programme.”
The new line of modular Bluetooth glasses is expected to be introduced in the first half of next year.
Lucyd chief executive Harrison Gross said: "We are extremely excited to introduce the first ever interchangeable-parts smartglass in the first half of 2020.
“This new feature will allow for unprecedented freedom of choice in the look and functionality of eyewear, and effectively give the user a whole new glasses style every month for a modest fee.”
Tekcapital commercialises university intellectual property, a process known as technology transfer. Portfolio companies include medical device company Belluscura, food tech company Salarius and autonomous vehicle IP specialist Guident.