Tekcapital shares rose on Wednesday after their portfolio company Innovative Eyewear soared 200% in US trade yesterday.
The tripling of Innovative Eyewear’s shares was a result of the launch of their ChatGPT enabled smart eyewear.
Innovative Eyewear shares closed up 201% at $4.40 overnight and Tekcapital had added 8% to trade at 17.8p at the time of writing.
AIM-listed Tekcapital has 67% stake in Innovative Eyewear which is listed on the NASDAQ. The value of Tekcapital’s stake increased in the region $15m yesterday.
With Tekcapital’s market capitalisation sitting at just £29m, it suggests value in the current share price given the rest of their portfolio includes MicroSalt, Belluscura and Guident.
Tekcapital’s holdings in London-listed Belluscura is worth around £5m and MicroSalt is preparing for an IPO after appointing advisors last year.
Innovative Eyewear patent
Today, Tekcapital announced Innovative Eyewear has filed a patent related to the prioritisation of AI chatbots across a range of devices, including smart eyewear.
“We believe we are the first smart eyewear company to provide (patent-pending), artificial intelligence voice accessibility on Bluetooth-enabled eyewear. With our new Lucyd app, we are continuing to make eyewear more flexible and smarter than ever before,” says Harrison Gross, CEO of Innovative Eyewear.