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Tekcapital shares tick higher after portfolio company update double header

Tekcapital shares were ticking steadily higher on Thursday after two of the intellectual property group’s portfolio companies, MicroSalt and Innovative Eyewear, announced strategic developments.

Innovative Eyewear has ensured Samsung users now have the same seamless experience as Apple users when using its ChatGPT-enabled smart eyewear with the launch of a Bixby app. The new app will provide Samsung users with full handsfree voice functionality and interactivity.

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Samsung users will no longer have to take their phones out of their pockets to access ChatGPT and other tools —a feature Innovative Eyewear’s Apple users have enjoyed since the service’s launch.

“After a year of rigorous development from our launch of handsfree ChatGPT access on iOS devices, we are extremely pleased to now offer this feature for one of the largest groups of smartphone users, those with Samsung phones,” said Harrison Gross, CEO of Innovative Eyewear.

“This is an important milestone in our mission to make smart eyewear accessible, enjoyable and useful for all. With our new Bixby app, Samsung users can enjoy more convenient access to numerous types of information, and experience the world’s most powerful AI simply and quickly on Lucyd eyewear.

“We are also excited about the potential of using our glasses in tandem with Samsung’s forthcoming smart ring to deliver health and exercise data through our eyewear. This could allow customers to learn about their health status and exercise metrics without having to look at a phone or smartwatch.”

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The smart eyewear market is forecast to grow to $33bn by 2030 representing a substantial growth opportunity for Innovative Eyewear who can now provide hands free functionality for users of the world’s top-two mobile phone brands.

MicroSalt

After a storming start to life as a London-listed company, MicroSalt has released a series of commercial updates and has today announced a fresh partnership with e-commerce platform, Thrive Market.

Thrive Market, a membership-based natural and organic food retailer, provides its 1.2m members access to more than 6,900 products from over 800 brands.

Rick Guiney, CEO of MicroSalt, said: “We are extremely excited about the placement of our SaltMe! low sodium crisps on Thrive Market.  Thrive Market is an extremely well-regarded and national e-commerce platform offering natural and organic food products to their members. With over 1.2 million members, they speak directly to consumer looking for healthier snack options. This new placement across three new United Natural Food Distribution Centres allows us the opportunity for additional retail distribution and new account placements.”

In April, MicroSalt announced placement of its low-sodium salt into the food service sector through a partnership with Carma Hospitality Group.

Tekcapital shares were 1.2% higher at the time of writing.

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