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Due to the oversubscribed status of our first campaign, we have launched a new campaign at Startengine.com/lucyd. New investments can be made on that page.
Our Story
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
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 address 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
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
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 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.
Beta Tester Feedback
As a community-powered company, user feedback drives our product improvements and line expansions. We’ve already begun to collect feedback on Lucyd Lyte. To see all of our reviews so far, please visit the Lyte Amazon page.
CHAD GAINOR
"For starters, I am no stranger to sound glasses—I have owned 3 versions from Lucyd as well as Bose Frames. This is the first pair that looks like normal glasses. The arms are slim and the glasses themselves are not noticeably heavier than regular glasses."
ALEX BARANSKY
"These glasses are PERFECT for riding and have transformed my exercise routine. I'm able to listen to music but still be aware of cars and people around me, which is an absolute game changer. I don't go riding without these anymore."
DEREK CARMAN
"It really is so hard to comprehend how effective and luxurious the glasses feel for the price. As someone who imagined my Lucyd shades best on the golf course, I enjoyed them just as much strolling along downtown."
CHRISTINE GULSARAN
"It makes things so much more convenient for me. I don't have to worry about losing my headphones or charging my wireless ones. The price is also way more affordable than at my optometrist's office."
The Market
The current online market for eyewear is US $3.8B. Approximately eight million pairs of prescription eyeglasses were sold online in 2018.
The market for digital assistants like Siri, Google Voice and Alexa have grown rapidly. There will be an estimated 8 billion digital voice assistants in use by 2023, up from the 2.5 billion assistants in use at the end of 2018.
The wireless “hearables” market is projected to sell 230 million units in 2020. Sales of “Hearables” garnered $21.2 billion in 2018, and is estimated to reach $92.46 billion by 2026, growing at a CAGR of 17.2% from 2019–2026.
How We Are Different
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.)
Simulated Vyrb Interfaces
The Business Model
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
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
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
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.
Mother's Day Gift Guide
Review: Lucyd Loud Audio Glasses
Exclusive Interview with Harrison Gross
Lucyd Loud 2020 Review
Lucyd Loud Review (1.0)
Innovative Eyewear crowdfund coverage
Meet Lucyd Lyte, the prescription smart glasses with voice-controlled social media
2020’s best Labor Day sales on WFH and back-to-school essentials
The Future Is Here: Listen to Music With these Snazzy Sci-Fi Glasses
Company | : | Innovative Eyewear, Inc. |
Corporate Address | : | 66 W Flagler St. Suite 900, Miami, FL 33130 |
Offering Minimum | : | $10,000.00 |
Offering Maximum | : | $1,070,000.00 |
Minimum Investment Amount(per investor) | : | $100.00 |
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.
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.
Dear InnoEye investors and followers,
Thank you for your patience while we work to build the global standard in smart eyewear! We have been extremely busy since the end of the crowdfund, rolling out new product styles, improvements and accessories.
Some major developments to look forward to in the Spring:
1) The launch of four additional styles to our main Lucyd Lyte line, including our first XL frame and first tortoise frame, and a striking gold aviator. Here's a quick preview of the new Lyte® Titanium Timewarp model:
2) A new Lyte Sport wraparound sunglass style.
3) Four new Lyte styles designed specifically for women and youth.
4) The introduction of our new cordless charging dock to make charging your Lyte (and other devices) easier than ever.
As a special thank you to our supporters, we will be including FREE Lucyd Pro 2-year insurance on all Lytes you purchase in the month of March. This $79 value covers your frames against all damage for two years, and provides a 50% credit for lost or stolen frames. It's a great way to make sure your smart eyewear is protected for the long haul! Simply check the insurance option when adding frames to cart or before you head into the prescription form. Done and done! Head over to Lucyd.co now to upgrade.
As always, let us know if you have any questions. Thank you for supporting our community-funded, employee-owned company.
Best wishes always,
InnoEye Team
Hey InnoEye investors and community,
Thanks so much for supporting us on our mission to make Lucyd eyewear the go-to smart frame of 2021!
Our booth at Vision Expo East was a runaway success - we sold EVERY PAIR WE BROUGHT to the show, and once we ran out of the 60 units we had, we had customers buy the floor models! The response was unbelievable, almost every optical business that came to our booth bought at least one Lyte to try out with their customers.
The feedback from the show has been amazing, and we are in the process of onboarding dozens of new eyewear stores into our reseller network. It really could not have gone better! Check out this great clip of our booth, our brand ambassador Hadar Adora was there too! A media company working the floor said we had one of the busiest booths at the show - and it's easy to tell why, we had the only smart eyewear product at the whole expo.
In addition to our presence at the show, we sent out an email blast to the Expo's entire mailing list of 50,000 eyewear industry professionals. As a result, our reseller network is growing fast!
Guess which pair was the most popular? Our prototype pilot aviator, Starman, stole the show. Check it out below, it launches in just two months and will be our lightest frame yet at 1.1oz!
We were also just featured in Shape Magazine's Father Day gift guide. Shape has a monthly unique viewership of 2.6m people, helping Lucyd Lyte reach an athletic, health-conscious audience.
Thanks so much for following our mission to upgrade the world's eyewear. We'll be back soon with more awesome updates!
All the best,
InnoEye Team
Hello InnoEye investors,
Thanks so much for continuing to follow our mission to upgrade the world's eyewear. We have some very exciting updates to share.
1. We have signed Chris Clark, a pro golfer, to our roster of brand ambassadors. Mr. Clark is a valuable addition to the team, and will help us reach golfers and outdoor sports enthusiasts nationwide!
Chris Clark rocking the Lytening style of Lucyd Lyte.
2. We have our second national cable TV flight commencing Tuesday and running for two weeks on ESPN, CNBC, AMC and a few other popular stations. Our main commercial featuring Richard Sherman will air hundreds of times in households across the USA.Hello InnoEye investors and followers,
We're so glad to share this update with you, following the successful completion of our oversubscribed crowdfund!
We have just added three new full-time team members to the company, a fantastic step in our journey to becoming the nation's leading smart eyewear brand. Here are some quick bios:
Frank Rescigna joins as our new VP Sales. Frank has an incredible 30+ year career in eyewear, including managing the successful Guess Eyewear brand in the US, as well as their international efforts. Overall he has led millions of dollars in sales across several popular eyewear brands. Furthermore, Frank is a licensed optician and has previously operated his own optical business, bringing terrific eyewear industry knowledge to the team.
Ken Strominger joins as Sales Director-Electronics and Sports, and he brings extensive experience in electronics and fitness tech sales. He oversaw the successful launch of the Yurbuds earphones line, bringing them to $2m in annual sales and garnering placement in Dick's Sporting Goods, the largest national athletics chain.
Alex Rivera joins as Content Manager & Photographer, bringing 15+ years of experience in creation and management of top-quality brand content. He is already working hard on enhancing the Lucyd brand's online presence and social content.
For full biopics on the new team members, please read the press release.
In other news, the final round of free Lyte codes will be going out to all remaining $500+ investors tomorrow. If you don't see your code by tomorrow night at 9pm EST, please reach out to us at our main support email, info@Lucyd.co. You can also drop us a line if you have any questions about our progress. The code email will be titled "Get your complimentary Lucyd Lyte e-glasses".
Finally, our new free glasses contest is live, so be sure to hop on over and enter to win! Share the contest on social for additional entries.
Thanks again to everyone who made our crowdfund a rousing success. We look forward to upgrading your eyewear!
All the best,
InnoEyeTeam
Hello to our amazing investors and followers,
We are so glad you are keeping up with our progress after our Startengine campaign. Our crowdfund was a rousing success, and brings us one step closer to bringing smart eyewear mainstream.
We have some new press features we would like to share. First, Lucyd Lyte was ranked "best smart eyewear for clear lens use" on BestProducts.com. Next, we were included in a roundup of the most successful smart eyewear products for an in-depth review on CNET. This video placed our eyewear among industry leaders like Amazon Frames and Bose Frames. We were also recently featured in the Decider.
Next, we want to share some news on Vyrb progress. We are developing the app carefully and quickly, and now have an expected beta launch date of July 30th, 2021. At that time you'll be able to download the Vyrb app on both Android and iOS, and start speaking your mind on a whole new social platform! Here's a special preview of our planned app icon, a "V" sound wave:
Thanks again for all your support. We look forward to the advancement of our wearable ecosystem with the Vyrb app. Be sure to reach out if you have any questions or would like the investor discount code or to join our boosted cash referral program for investors. The last round of Lyte codes will be sent on May 3rd, for investors who joined in the last month of the campaign. We'll see you at Lucyd.co!
All the best,
InnoEye Team
[The following is an automated notice from the StartEngine team].
Hello!
As you might know, Innovative Eyewear, Inc. has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in Innovative Eyewear, Inc. be on the lookout for an email that describes more about the disbursement process.
This campaign will continue to accept investments until its indicated closing date.
Thanks for funding the future.
-StartEngine
Hello InnoEye investors,
We are very excited to announce the successful completion of our Startengine campaign. Thanks to the terrific efforts of our community, we are fully subscribed. We look forward to spending the coming months enhancing the Lucyd Lyte line and launching the Vyrb app!
The next round of Lyte codes have gone out, so all investors who reached $500 up until March 24th should now have their codes. Please check for an email titled "GET YOUR COMPLIMENTARY LUCYD LYTE E-GLASSES NOW" and reply to the email if you need prescription lenses. If you invested on or after March 24th, you will get your code at the end of April - your investment is still processing. If you think you should have your code but don't see it, let us know through Lucyd.co.
Now, check out Lyte featured among industry heavyweights Amazon and Bose in a new review on CNET! Lyte was the clear style & price leader in the group, and the only product offering in-house prescriptions!
Thanks again to all of our supporters. Stay tuned for more updates!
Gratefully yours,
InnoEye Team
[The following is an automated notice from the StartEngine team].
Hello! Recently, a change was made to the Innovative Eyewear, Inc. offering. Here's an excerpt describing the specifics of the change:
Innovative Eyewear, Inc. has added new financial statements.
When live offerings undergo changes like these on StartEngine, the SEC requires that certain investments be reconfirmed. If your investment requires reconfirmation, you will be contacted by StartEngine via email with further instructions.
Hello InnoEye investors,
Thanks again for your contributions, they have enabled us to build a remarkable product in Lucyd Lyte. It's amazing to see so many eyewear and tech enthusiasts joining our mission to upgrade the world's vision and connectivity.
First, please check out the newest interview with InnoEye CEO and Lucyd brand creator Harrison Gross, on Core Finance. Harrison was also featured this week on the Social Geek Radio podcast, a top marketing show. Harrison has received many interview requests lately, indicating a rise in interest in the brand. These new features are bringing investors and customers to the community, while also helping establish InnoEye as a thought leader in the smart eyewear space.
Next, we had some incredible coverage of our recent partnership with D. Landstrom Associates. The news was picked up by 112 outlets, including Associated Press, Benzinga and Yahoo! Finance, giving us fantastic reach to the business community.
We also have a very exciting update on new styles of Lucyd Lyte. A sample run of eight new Lyte styles are expected in early May, and once they arrive, we'll be surveying our community once again on which pairs they most want to see in main production. Here's a little spoiler on one of the styles, Polaris, which will boast traditional eyeglass nosepads for an extra-comfortable fit.
Finally, our new FREE GLASSES contest is live, so sign up now to win a free Lyte! Don't forget, you must be following our Instagram @goLucyd to be eligible to win.
Thanks everyone, we look forward to upgrading your eyewear!
All the best,
InnoEye Team
[The following is an automated notice from the StartEngine team].
Hello!
As you might know, Innovative Eyewear, Inc. has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in Innovative Eyewear, Inc. be on the lookout for an email that describes more about the disbursement process.
This campaign will continue to accept investments until its indicated closing date.
Thanks for funding the future.
-StartEngine
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