Shares of investment firm Tekcapital (LON: TEK) are gaining on Thursday after it announced that its portfolio company, Lucyd’s Innovative Eyewear subsidiary, has launched a new regulation crowdfund.
The company is looking to raise $500,000 at a $20m pre-money valuation.
Lucy said the money raised will be spent on building inventory to meet the increasing customer demand from its e-commerce and retail sales channels.
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Harrison Gross, Lucyd co-founder and CEO, said: “We are pleased to announce our second Reg CF crowdfund to help meet the rapidly growing demand for our popular Lucyd® Lyte e-glasses, which we launched this past January.
“To-date the product has received more than 200 5-star ratings on Amazon and our Lucyd.co e-shop. We plan to introduce six new styles of our smart eyewear in the next 60 days, including the first titanium front Bluetooth glasses, which weigh just 30 grams, the same as traditional eyewear.”
Tekcapital’s share price is currently trading at 19.2p, up 1.05%.
Should you invest in Tekcapital shares?
Tekcapital shares are traded on the London stock exchange’s AIM market (the alternative investment market), which is the submarket specifically for smaller companies. AIM stocks are attractive to investors as they have tax advantages and smaller companies have the potential to benefit from rapid growth. But are Tekcapital shares the best buy? Our stock market analysts regularly review the market and share their picks for high growth companies