Innovative Eyewear

Early Stage

Prescription Smartglasses with Voice-controlled Social Media App


Raised to Date: Raised: $163,886

Aggregate Commitments $



Start Date


Close Date


Min. Goal


Max. Goal


Min. Investment


Security Type

Equity - Common

Funding Type




Pre-Money Valuation


Rolling Commitments $

Reporting Date


Days Remaining
% of Min. Goal


% of Max. Goal


Likelihood of Max
Avg. Daily Raise


Log in or create a free account today to gain access to KingsCrowd analytics.

North Miami, Florida


Consumer Products, Goods & Services

Tech Sector


Distribution Model




Capital Intensity


Business Type


Innovative Eyewear, with a pre-money valuation of $20 million, is raising funds on StartEngine. The company makes smart and affordable eyewear with Bluetooth capabilities. The wearers can talk on the phone, listen to music, and control mobile functions through voice assistants. The smart eyewear of Innovative Eyewear acts like headphones and glasses and works to provide digital connectivity in addition to vision correction. Innovative Eyewear was founded by Harrison Gross, David Eric Cohen, and Konrad Dabrowski in 2019. The current round of crowdfunding has a minimum goal of $9,996.48 and a maximum goal of $499,994.88, and the proceeds will be used to bring the eyewear in a lightweight format and launch the Vyrb social media app. Innovative Eyewear has a strong intellectual property portfolio with exclusive rights to 24 patents.

Summary Profit and Loss Statement

Most Recent Year Prior Year












Net Income



Summary Balance Sheet

Most Recent Year Prior Year




Accounts Receivable



Total Assets



Short-Term Debt



Long-Term Debt



Total Liabilities



Financials as of: 07/21/2021
Log in or create a free account today to gain access to KingsCrowd analytics.

Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
Innovative Eyewear 09/24/2021 StartEngine $20,000,000 $163,886 Equity - Common Funded RegCF
Innovative Eyewear 04/26/2021 StartEngine $3,750,000 $1,069,946 Equity - Common Funded RegCF
Log in or create a free account today to gain access to KingsCrowd analytics.

Upgrade to gain access

Pay Monthly
Annually (Save 17%)


$8.33 /month
billed annually
Free portfolio tracking. Limited reports and filters.
Plan Includes:
Everything in Free, plus
Advanced company search ( limited filters)
Founder profiles and exclusive webinars
2 Analyst Reports per month
Get Starter Annual


$25 /month
billed annually
Unlimited analyst reports and market analytics.
Plan Includes:
Everything in Starter, plus
Full access to all Analyst Reports
Filter on Staff Picks (e.g. Top Deal, Deal to Watch, etc.)
Market Analytics
Get Pro Annual


$41.67 /month
billed annually
Full site access including Merlin ratings.
Plan Includes:
Everything in Pro, plus
Search and filter companies by Merlin ratings
Company specific Merlin rating and risk assessment
Get Merlin Annual
Already a member? Log in here.


Analyst Report


As of 2021, 48.2% of people worldwide own a smartphone. And though people have come to rely on smartphones for everything from email to music streaming to social media, their addictive interfaces tend to make users distracted and unproductive. In some cases, the distraction is lethal. Smartphones are partly to blame for the rise of pedestrian deaths. When pedestrians are glued to their phone screens, they are not fully aware of their surroundings, especially if they are also using headphones. The use of cellphones while driving has also caused hundreds of thousands of accidents

Innovative Eyewear is trying to solve this problem with its bluetooth audio glasses. These glasses, called Lucyd, would enable users to listen to music, talk on the phone, and use voice assistants to perform many common smartphone functions hands-free. The glasses also function as open-ear headphones and come with prescription lenses.

Innovative Eyewear is also developing a social media app called Vyrb. In the same hands-free spirit as the Lucyd glasses, Vyrb will allow users to post using voice commands, send voice messages, listen to their feed, and more. 

Innovative Eyewear’s current StartEngine raise has been rated a Neutral Deal by the KingsCrowd investment team.


Innovative Eyewear is offering common equity at a pre-money valuation of $20 million. This valuation is a steep increase from the previous raise that just ended three months prior to this raise, which was $3.8 million. This valuation change is presumably due to the company’s new social media app, Vyrb, but the app is still under development. Innovative Eyewear has failed to show significant enough growth to justify its valuation increase. Based on its 2020 revenue, it has a 432-times valuation revenue multiple, which seems very overvalued — especially for a consumer product. Thus, Innovative Eyewear’s price score is the lowest across all metrics.


In 2020, the global smart glasses market was worth $69.1 million and had a compound annual growth rate of 15%. North America has a dominant market share of 61%. The market is growing at a rapid pace, but the overall market is small. It is uncertain whether there is enough demand for Innovative Eyewear’s product type in order for the company to be successful. Therefore, Innovative Eyewear’s market score is below average.


Harrison Gross is Innovative Eyewear’s co-founder, director, and CEO. He had a formal education in Jewish studies and creative writing from the Jewish Theological Seminary of America and Columbia University respectively. He was previously a founder, editor, and publisher at Sphirah, an independent publishing label of literature and music. After that, he was a digital media manager at Tekcapital plc, where he was in charge of marketing, copywriting and social media. Gross co-founded the Lucyd brand in 2017, which later became Innovative Eyewear. Gross’ experience in marketing and branding can be valuable for Innovative Eyewear, as it’s focusing on developing a social media app. But overall, Gross’s past experiences do not seem particularly relevant to his current industry.

David Eric Cohen serves as Innovative Eyewear’s co-founder and CTO. He holds a bachelor’s degree in data modeling/warehousing and database administration from Hadassah Academic College. Cohen also received a master’s degree in the same major from the Jerusalem College of Technology. Cohen co-founded the Lucyd brand in 2017, where he was in charge of software. Prior to this, he worked in business intelligence at Montreal Jewish General Hospital and Brightstar Corp. He was also a president at Emaze Design Agency, where he gave consultations mainly for web design. Given Cohen’s profound experience in web development, he seems like a perfect fit for his position at Innovative Eyewear. 

Konrad Dabrowski is Innovative Eyewear’s co-founder, CFO, and acting secretary. At the same time, he also serves as CFO at Tekcapital plc. He holds a master’s degree in finance and banking from the Warsaw School of Economics. He was also a part of Lucyd’s original team, serving as the finance director. Previously, he was an audit manager at Deloitte and a global accounting manager at Restaurant Brands International. Although his extensive finance background is certainly useful to Innovative Eyewear, his other obligations suggest a lack of dedication to the company.

There are currently six other members of the Innovative Eyewear team, including a vice president of sales, a graphic designer, and a content manager. But the team lacks software developers. This is crucial, especially since the company’s main focus is to develop its Vyrb app. Overall, Innovative Eyewear’s team score is just above average.


There are numerous players in the audio glasses market already, including big brands like Bose. Innovative Eyewear has some advantages over Bose, such as a more fashionable design, cheaper price, compact size, and prescription lenses. But competitor Vue Glasses offers the same features, which shows Innovative Eyewear’s features are not difficult to replicate. Innovative Eyewear’s Vyrb app could be a key advantage, as few smart glasses companies also develop social media apps. However, since Vyrb is still under development, its success cannot be guaranteed. 

Innovative Eyewear has a strong patent portfolio for its audio quality. It has three utility patents (one granted and two pending) and 21 design patents (13 granted and eight pending). Although the Lucyd brand was founded in 2017, it only launched in January of 2021. This seems to indicate a great deal of focus on product development, which may bode well for the company in the long run. Overall, Innovative Eyewear scores above average in the differentiation metric.


Innovative Eyewear was only able to generate around $46,000 in revenue in 2020. However, it is important to keep in mind that its first mass-market audio glasses only launched in January 2021. Since then, Innovative Eyewear has been growing quickly. It has sold more than 2,500 glasses through its own website as well as through distribution channels such as Amazon and D. Landstrom. D. Landstrom distributes to big box stores like Walmart, Best Buy, and Target. Innovative Eyewear has received positive feedback from its users in the form of 200 five-star ratings. 

Innovative Eyewear has also successfully secured partnerships with multiple social media influencers who have a significant amount of followers. A couple notable ones are professional golfer Chris Clark and musical artist Hadar Adora. These partnerships could play a huge role in boosting the company’s brand and acquiring more customers. Innovative Eyewear also secured $1.8 million in prior investment rounds, which indicates the founding team is more than capable of raising money. That’s essential for a startup’s survival. Additionally, Innovative Eyewear has a reasonable monthly burn rate ($32,000) for a technology hardware company. It also has little debt. For these reasons, the company has a nearly perfect performance score.


All things taken together, Innovative Eyewear has a low risk profile. The only elevated risks investors should be aware of is the company’s expensive valuation and high revenue multiple. This creates a significant investment risk because it might limit investors’ potential returns in the event of a future exit.

Bearish Outlook

Investors may be concerned that Innovative Eyewear’s market opportunity is tiny. The company’s lack of significant differentiation could also hinder its future growth. The company’s new social media app, Vyrb, could be Innovative Eyewear’s key advantage over competitors. However, Vyrb’s success is uncertain since it’s still under development. Although the team is fairly strong, the company needs to expand its team to include people with software development skills in order to speed up the development of Vyrb. Investors should also take note of the company’s inflated valuation.

Bullish Outlook

Innovative Eyewear holds multiple patents that make its product somewhat defensible. Its social media app, Vyrb, is still in development. But if it’s successful, it could give Innovative Eyewear a major advantage over its competitors. Its audio glasses are reasonably priced compared to its competitors, and they’ve received 200 five-star reviews so far. The company has also achieved undeniably impressive traction that is supported by its influencer partners, who could expand Innovative Eyewear’s brand to an even larger base of customers. If Innovative Eyewear can keep expanding its network of influencers, it could be the main driver for both acquiring new customers and establishing customer loyalty.

Executive Summary

Innovative Eyewear sells bluetooth audio glasses that enable users to listen to music, talk on the phone, and use voice assistants to perform smartphone functions hands-free.

Innovative Eyewear has a significantly high valuation and valuation revenue multiple. The company operates in a rather small market, but the market is growing rapidly. The company’s team is fairly strong, but it needs to scale in order to speed up its product development for a stronger competitive advantage. Although its product has its upsides, it still lacks a distinctive feature that can set it apart from numerous existing competitors. The company holds multiple patents that can make its product defensible. It has also achieved undeniably impressive traction. All in all, Innovative Eyewear is a Neutral Deal. 

For questions regarding the KingsCrowd staff pick or ratings for this company, please reach out to

Analysis written by Inez Sanjaya.

Other Deals

Mycroft AI on StartEngine 2021

It has designed, tested, and entered production with its second-generation smart speaker, Mark II. Michael Lewis, Joshua Montgomery, and Kris…

Valuation: $38,002,983
Min Investment: $500
Industry: Consumer Products, Goods & Services
Raised $396,854 of $4,999,999 max

GoSun on StartEngine

The company uses solar technologies to create efficient products for cooking, cooling, lighting, and charging electronics using solar energy. The…

Valuation: $59,891,925
Min Investment: $250
Industry: Consumer Products, Goods & Services
Raised $1,171,888 of $3,930,000 max

Responsum Health on Republic 2021

The company has created free and disease-specific apps to provide support and knowledge to people with chronic conditions. The apps…

Valuation Cap: $4,500,000
Min Investment: $100
Industry: Healthcare & Pharmaceuticals
Raised $52,826 of $1,070,000 max

Create your first portfolio

Create your very own investment portfolio on KingsCrowd.

Now you can track all of your startup investments in one place utilizing our state-of-the-art portfolio tracker tools. To begin, create your first portfolio below.

Add to portfolio
Innovative Eyewear on StartEngine 2021
Platform: StartEngine
Security Type: Equity - Common
Valuation: $20,000,000
Invest in a different round for this company? Use my investment date to determine which raise I invested in.

Follow company

Follow Innovative Eyewear on StartEngine 2021