Innovative Eyewear, Inc.

Prescription Smartglasses with Voice-controlled Social Media App

Innovative Eyewear, Inc.

Prescription Smartglasses with Voice-controlled Social Media App

North Miami, FL
Electronics
Innovative Eyewear produces beautiful, affordable glasses with Bluetooth capabilities. Our products enable the wearer to listen to music, talk on the phone, and use voice assistants to perform many common mobile functions handsfree. Additionally, we are developing a voice-controlled app called VyrbTM, which will allow eyeglass wearers to listen and respond to social media posts with their voice, without looking at their smartphones. Our smart eyewear acts like headphones and glasses in one, bringing vision correction and protection together with digital connectivity and clear audio, and offers a safer solution for listening to music outdoors compared to in-ear headphones.

$35,800

raised
88
Investors
87
Days Left
$1.00
Price per Share
$3.75M
Valuation
Equity
Offering Type
$100.00
Min. Investment

$35,800

raised
88
Investors
87
Days Left
$1.00
Price per Share
$3.75M
Valuation
Equity
Offering Type
$100.00
Min. Investment

Bonus Rewards

Get rewarded for investing more into Innovative Eyewear, Inc.

$100+
Investment
StartEngine Owner’s Bonus
This offering is eligible for the StartEngine Owner’s 10% Bonus program. For details on this program, please see the Offering Summary section below.
Early Bird Bonus
Next 7 days | 10% bonus shares
4
days
0
hours
3
mins
58
secs
$100+
Investment
All Investors Club:
Access to exclusive investor group on Whatsapp. Ongoing 10% discount on Lucyd frames and lenses through December 31st, 2021. Affiliate program Legend Membership. Share Lucyd with your network and receive a boosted 15% cash bonus when they purchase
$500+
Investment
First Volume Tier
$500 (Free pair of Lucyd Lyte Bluetooth designer glasses)
$5,000+
Investment
Second Volume Tier
$5,000+ (Lucyd Lyte + 10% bonus shares)
$20,000+
Investment
Third Volume Tier
$20,000+ (Lucyd Lyte + 15% bonus shares)
$50,000+
Investment
Fourth Volume Tier
$50,000+ (Two pairs of Lucyd Lyte + free entry into any new beta smartglass programs + 25% bonus shares + preferred access to team management)

Reasons to Invest

Launching Bluetooth prescription glasses that match the fit and finish of designer eyewear, costing the same as regular glasses to enable mass market adoption. Strong intellectual property position with exclusive rights to 21 total pending patents, including four utility patents and 17 design patents.
Developing a breakthrough new app called Vyrb which will enable voice posting to social media platforms such as Twitter and Facebook with the glasses.
Three-year exclusive brand ambassador contract with NFL star Richard Sherman, Super Bowl Champion. Richard Sherman was previously a brand ambassador for Beats headphones, which was acquired by Apple.

“Upgrade Your Eyewear®”

Our Story


Creating a seamless experience between eyewear and your digital life

Innovative Eyewear was established to upgrade the world’s glasses, by producing fashionable and affordable prescription frames with Bluetooth features, enabling the wearer to both correct their vision and be connected with their digital life. Our team was the first to develop Bluetooth prescription glasses two years ago, and we continue to develop, manufacture and sell them around the world.

Innovative Eyewear's mission is to make a new generation of Bluetooth glasses, that are indistinguishable from high fashion eyewear in looks and price, and provide the ability to perform many smartphone functions using just your voice. We offer a unique combination of prescription, wearable utility, safer mobile computing, and fashion at a great price. Previously, under the Lucyd brand, our team was the first to deliver prescription Bluetooth eyewear, and one of the first to produce a line of Bluetooth eyewear in an expansive line of 10 fashionable patterns. 


Our team first entered the smart eyewear industry in 2017, when we founded Lucyd Ltd. We began conducting research projects into smart eyewear that year, and came out with our first product, the Lucyd Loud 1.0 glass, in 2018. Now in 2020, we have formed Innovative Eyewear Inc to begin expanding our business in the US. To help with this and consolidate our operations, we licensed our IP portfolio from Lucyd Ltd to Innovative Eyewear.


The Problem


Hands-free technology is expensive, and handheld devices present a safety hazard to pedestrians and cyclists

The number of devices with voice assistant capabilities has risen meteorically to 3.25 billion units, indicating a need for users to be able to more freely access voice AIs. Consumers are looking for tech-enhanced glasses, similar to the preference for smartwatches versus traditional timepieces, but few if any tech eyewear products exist which fully addresses the needs of prescription glass wearers while enabling smart functions and being affordable, comfortable for all-day wear, and attractive.

Having developed a dependence on smartphones for information, people constantly focus their attention on their screens, thus distracted from their surroundings. Pedestrian fatalities increased by 60% from 2009 to 2018, due in large part to the widespread use of smartphones by drivers and pedestrians alike. 

The Solution


Comfortable, affordable smartglasses that seamlessly integrate your eyewear with your digital life

We have set out to enable eyeglass and sunglass wearers to interact with AI voice assistants and social media handsfree, thereby improving the safety and convenience of accessing digital information and apps. Our eyewear provides glasses and a bluetooth headset in one unit.

We are developing a new form factor for Bluetooth eyewear that looks like fashionable optical glasses, but also enables useful smart features when connected to your phone, smartwatch or computer. We’ve created a line of comfortable and affordable smartglasses that add tech capabilities without sacrificing anything from a typical eyewear experience. We are going to enhance those capabilities with an app called Vyrb, that will expand the power of voice assistants.

Our Traction


Exclusive partnerships and a first-to-market advantage

In March 2020, Innovative Eyewear, Inc. acquired the exclusive license to use the Lucyd IP, eShop and brand. Lucyd has developed and sold over 2,000 pairs of Bluetooth eyewear during the past three years, and launched three different product lines. We’ve secured a three-year brand ambassador contract with NFL star Richard Sherman to help build awareness for our product.

We have the exclusive license to four utility patent applications and seventeen design patents from Lucyd Ltd that we believe provide a strong competitive advantage in the tech eyewear space:

  • A mobile application that provides methods for organizing and prioritizing wireless connections, including the flow of audiovisual information among multiple connected devices. 

  • A mobile application called Vyrb™, which enables the user to engage with social media using their voice, and program specific keywords to activate data retrieval and other automated actions via their mobile device’s voice assistant

  • Glasses-as-a-Service™ is made of two hardware patents that describe modular Bluetooth eyewear with user-replaceable frontplates, enabling the wearer to change the look and lens function at a low cost compared to buying a whole new smartglass.

  • Design patents adding additional protections to our Loud Youth line and our Glasses-as-a-Service™ IP. 

The Market


Innovative Eyewear sits at the intersection of three growing markets

How We Are Different


The smartest glasses for the price

While many companies offer some kind of tech eyewear, very few are suitable for extended wear and are delivered with corrective lenses, which are needed by ⅔ of the population. According to user reviews on Amazon, even fewer are of high quality, or are attractive enough for the fashion conscious buyer. None of our competitors currently offer voice control of social media apps such as Facebook and Twitter. Other smart eyewear products tend to lack touch controls or have imprecise control systems, whereas Lucyd frames have easy and reliable one-touch controls. For example, on Lucyd frames you can adjust volume, skip tracks, use your voice assistant and answer calls with a click.

*Lucyd.co charges $35 to add a basic prescription. Bose charges $126.

A leading competitor, Bose® Frames, is in another price category at nearly double the cost of our products, and in our view not as fashionable. The cost to add a prescription to a Bose frame is much more expensive at over $125 extra, while Lucyd frame prescriptions start at $35. The total cost of a Lucyd prescription frame is $155, compared to $326 for Bose. Their product is also in a larger sunglass form factor, while Innovative Eyewear is developing an optical line. Further, none of the competitors offer a proprietary voice-controlled app called Vyrb™ which allows you to listen and post to your social media programs using your voice, without looking at your phone. (Vyrb images are computer generated demo versions. Product is still currently under development.)

video

Hear Your Newsfeed

video

Verbal Posting

The Business Model


Direct-to-consumer and wholesale sales channels

Innovative Eyewear has two major sales channels, one being ecommerce via the Lucyd eShop, Amazon and Walmart.com, and the other being reseller outreach to retail eyewear and sporting goods establishments. Innovative Eyewear also offers two affiliate platforms for peer-driven sales.

Innovative Eyewear has two levels of margins, one for direct-to-consumer which is higher, and one for wholesale which is more competitive. Our frame margins are approximately 60% for direct-to-consumer and 38% wholesale. We have an average profit margin of 20% on custom and prescription lenses. 

The Vision


Becoming a pioneer in the tech eyewear industry

As part of our mission to make smart eyewear accessible to the mass market, we are seeking to develop a complete line of Bluetooth eyewear for every size and style preference. When paired with the Vyrb app, Lucyd Eyewear will provide a new, safe and wearable user experience.

We believe that in 5 years, 20% of the online eyewear market will be Bluetooth-enabled frames. As a result of this expanding ecosystem that Innovative Eyewear is helping to pioneer, we are planning to earn a leadership position in the tech eyewear market under the Lucyd brand.

Our Team


A team with expertise across the eyewear, tech, and online spaces

In addition to being passionate about tech eyewear, the Innovative Eyewear team has a significant background in technology and product commercialization. We are motivated to bring real value to our customers by delivering them a product that is not available from anyone else--smart eyewear in a lean and fashionable form factor, enhanced by cutting-edge mobile applications. 

Why Invest


A unique position in multiple growing markets

Innovative Eyewear is well-positioned to develop the first mainstream smartglasses because our team has been in the space for years and understands from a personal and consumer perspective the market drivers for success in this emerging sector. Innovative Eyewear has licensed a large portfolio of IP for a young company, with exclusive rights to 20 pending patents (both design and utility) that create a technology moat in this sector. We are looking for investors to help us continue to push the technology and design of smartglasses forward to create a safer, more comfortable, and affordable experience for those looking to embrace innovation.  Help us bring about the future of eyewear. With your investment, we believe we can bring smart eyewear into a lightweight spectacles format suitable for everyone, and launch the exciting Vyrb social media app to bring the voices of the world together. 

In the Press

Forbes

Mother's Day Gift Guide

iPhone Life

Review: Lucyd Loud Audio Glasses

Techpluto

Exclusive Interview with Harrison Gross

iMore

Lucyd Loud 2020 Review

Cult of Mac

Lucyd Loud Review (1.0)

Offering Summary


Company

:

Innovative Eyewear, Inc.

Corporate Address

:

12000 Biscayne Bl Ste 216, North Miami, FL 33181

Offering Minimum

:

$10,000.00

Offering Maximum

:

$1,070,000.00

Minimum Investment Amount

(per investor)

:

$100.00











Terms


Offering Type

:

Equity

Security Name

:

Common Stock

Minimum Number of Shares Offered

:

10,000

Maximum Number of Shares Offered

:

1,070,000

Price per Share

:

$1.00

Pre-Money Valuation

:

$3,750,000.00











*Maximum Number of Shares Offered subject to adjustment for bonus shares. See Bonus info below.

COVID Relief

This offering is being conducted on an expedited basis due to circumstances relating to COVID-19 and pursuant to the SEC’s temporary COVID-19 regulatory relief set out in Regulation Crowdfunding §227.201(z).

Expedited closing sooner than 21 days.

Further, in reliance on Regulation Crowdfunding §227.303(g)(2) A funding portal that is an intermediary in a transaction involving the offer or sale of securities initiated between May 4, 2020, and August 31, 2020, in reliance on section 4(a)(6) of the Securities Act (15 U.S.C. 77d(a)(6)) by an issuer that is conducting an offering on an expedited basis due to circumstances relating to COVID-19 shall not be required to comply with the requirement in paragraph (e)(3)(i) of this section that a funding portal not direct a transmission of funds earlier than 21 days after the date on which the intermediary makes publicly available on its platform the information required to be provided by the issuer under §§227.201 and 227.203(a).

Perks* and Investment Incentives

All Investors Club:

Access to exclusive investor group on Whatsapp.

Ongoing 10% discount on Lucyd frames and lenses through December 31st, 2021.

Affiliate program Legend Membership. Share Lucyd with your network and receive a boosted 15% cash bonus when they purchase Lucyd eyewear. 

Early Bird

These discounts are in addition to the volume tiers. 

First 48 hours - Friends and Family Early Birds | 15% bonus shares

Next 7 days - Early Bird Bonus | 10% bonus shares

 

Volume

$500 (Free pair of Lucyd Lyte Bluetooth designer glasses)

$5,000+ (Lucyd Lyte + 10% bonus shares)

$20,000+ (Lucyd Lyte + 15% bonus shares)

$50,000+ (Two pairs of Lucyd Lyte + free entry into any new beta smartglass programs + 25% bonus shares + preferred access to team management)

*All perks occur when the offering is completed.

The 10% Bonus for StartEngine Shareholders

Innovative Eyewear, Inc. will offer 10% additional bonus shares for all investments that are committed by investors that are eligible for the StartEngine Crowdfunding Inc. OWNer's bonus.

This means eligible StartEngine shareholders will receive a 10% bonus for any shares they purchase in this offering. For example, if you buy 100 shares of common stock at $1 / share, you will receive 110 shares of common stock, meaning you'll own 110 shares for $100. Fractional shares will not be distributed and share bonuses will be determined by rounding down to the nearest whole share.

This 10% Bonus is only valid during the investors eligibility period. Investors eligible for this bonus will also have priority if they are on a waitlist to invest and the company surpasses its maximum funding goal. They will have the first opportunity to invest should room in the offering become available if prior investments are cancelled or fail.

Investors will only receive a single bonus, which will be the highest bonus rate they are eligible for.

Irregular Use of Proceeds

The Company will not incur any irregular use of proceeds.

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Most recent fiscal year-end:
Prior fiscal year-end:
Total Assets
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Cash And Cash Equivalents
$0.00 USD
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Accounts Receivable
$0.00 USD
$0.00 USD
Short Term Debt
$0.00 USD
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Long Term Debt
$0.00 USD
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Revenues And Sales
$0.00 USD
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Costs Of Goods Sold
$0.00 USD
$0.00 USD
Taxes Paid
$0.00 USD
$0.00 USD
Net Income
$0.00 USD
$0.00 USD

Risks

A crowdfunding investment involves risk. You should not invest any funds in this offering unless you can afford to lose your entire investment. In making an investment decision, investors must rely on their own examination of the issuer and the terms of the offering, including the merits and risks involved. These securities have not been recommended or approved by any federal or state securities commission or regulatory authority. Furthermore, these authorities have not passed upon the accuracy or adequacy of this document. The U.S. Securities and Exchange Commission does not pass upon the merits of any securities offered or the terms of the offering, nor does it pass upon the accuracy or completeness of any offering document or literature. These securities are offered under an exemption from registration; however, the U.S. Securities and Exchange Commission has not made an independent determination that these securities are exempt from registration.


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