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Security Type
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Equity
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Categories
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Other
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Min Investment
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$100
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Offering Date
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June 29, 2020
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Expected Close Date
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September 30, 2020
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Target Raise
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$10.00K-$1.07M
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Deal Notes
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$1.00 per share
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Valuation
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$3,750,000
Company Description
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.
Perks
$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.
Key Deal Facts
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.
Use of Proceeds
Research & Development: 28.5 - 96.5%
Marketing: 0 - 24.0%
Inventory: 0 - 10.0%
Working Capital: 0 - 5.0%
Company Employment: 0 - 29.0%
StartEngine Platform Fees: 3.5%
Management Team / Advisory Board Bios
Harrison Gross
CEO, Director & Cofounder
Harrison’s background is in tech marketing and brand development, and he drives the Innovative Eyewear brand story, user experience and product development. Columbia University graduate. He works at Innovative Eyewear full-time, 40+ hours per week. Creator of the Lucyd brand and Vyrb app.
David Eric Cohen
CTO & Cofounder
David’s background is in web development and coding. He operates the digital presence of the brand and heads our software development efforts. M.S. in Advanced Technical & Information Systems Management, Hadassah University. B.S. in Computer Technology Management, Academy of Bordeaux.
He is employed to grow the Lucyd brand full-time, but also runs a web development consultancy. He spends about 35 hours per week on Innovative Eyewear.
Konrad Dabrowski, CPA
CFO, Acting Secretary & Cofounder
Konrad’s experience is in financial management, as an auditor for Deloitte, Accounting Manager for RBI, and Group Financial Controller for Tekcapital plc. M.S. in Finance & Accounting from the Warsaw School of Economics.
Roughly half of his time is spent on Innovative Eyewear, and the rest on Tekcapital and Salarius. This would be about 20 hours per week.
Felix Sanchez
Community Manager
Felix is a recent marketing graduate who helps our brand connect to Millennial and Gen-Z audiences with creative content and community-building efforts. Manages social media and customer relations. Johnson & Wales University graduate. Felix is employed full-time, 40 hours per week, to grow the Lucyd brand.
Richard Sherman
Brand Ambassador
Richard is a pro football player and entrepreneur with experience in bringing several new brands to a large audience. Stanford University graduate, Super Bowl XLVIII Champion, NFL Interception Leader 2013.
Richard is a current Cornerback for the San Francisco 49ers. Although this takes up most of his time, he is the face of the Lucyd brand and is available as a representative of the company when needed.
Clifford Gross, Ph.D., MBA
Ergonomics Advisor
Dr. Gross is our ergonomics advisor. He has many years of experience in developing ergonomic products that have been successful in the market including the Black & Decker DeWalt cordless professional drill, Logitech ergonomic mouse, Knoll Parachute chair, and more.
Dr. Gross is a frequent contributor to the company, offering technology guidance and commercialization support on a daily basis. He spends roughly 10 hours a week on Innovative Eyewear.