Tekcapital - Guident and Lucyd updates as market discounts the Vesari-driven NAV
A double set of news from Tekcapital (AIM: TEK), the UK intellectual property investment group, has sent the shares up by a modest 3% this morning.
First, portfolio company Guident Corp has announced a 36-month agreement with Coastal Waste & Recycling, a leading provider of waste and recycling services with over 40 locations throughout Florida, Georgia, and South Carolina. The expanded agreement includes deployment of WatchBot™ autonomous inspection robots, Guident's AI-powered software platform, and ongoing operational support services designed to enhance safety, automate inspections, and standardise monitoring.
Guident is a leader in AI-enabled safety and remote monitoring solutions that strives to enable the safe, scalable deployment of autonomous vehicles and robots through human-in-the-loop oversight and secure remote operations. The company provides a vital safety layer and an operational continuity framework that supports deployment across transit, mobility, and commercial robotics operations.
Following a successful fundraising of US$2 million in May 2026, Guident continues to work towards a public listing in 2026. Tekcapital holds a c.70% stake in Guident, with an additional US$5 million in loan note receivables convertible at Tekcapital's election.
In other news, portfolio company Innovative Eyewear, Inc. (NASDAQ: LUCY; LUCYW), the developer and manufacturer of smart eyewear under the Lucyd®, Lucyd Armor®, Reebok®, Eddie Bauer® and Nautica® brands, has developed significant new features for its smart eyewear products, delivered via the Lucyd app for iOS and Android. Tekcapital currently owns 259,455 shares of Innovative Eyewear.
The main feature in the update is the addition of the Newscast widget, which allows users to create custom, generative AI news reports to be read out on Lucyd eyewear. In addition to ChatGPT and Claude options in the app's AI modules, Innovative Eyewear has also added the ability to consult Google's Gemini service for AI image generation and standard LLM queries. Also, AI conversations can now take place across the app's visual interface and the audio interface of the glasses seamlessly.
Meanwhile, Android users receive two notable upgrades. First, they can now set Lucyd as their device-level voice assistant, instantly accessing the Lucyd app's AI models from the phone's action button or from Lucyd glasses, without the need for an additional voice command. Additionally, Android users can now quickly flip between AI models with the new floating Lucyd widget that appears when the assistant is activated.
Tekcapital 5-year share price chart
Earlier this month Tekcapital reported its results for the six months to end-June 2026, with net assets rising from US$55.1 million at the end of December 2025 to US$201.7 million. Net asset value per share rose to US$0.78 from US$0.27 over the same period.
The performance was driven by the valuation of Vesari Inc., in which Tekcapital was granted a 51% equity stake in May 2026. Vesari was formed to commercialise intellectual property to enable geothermal-powered AI data centres to efficiently produce behind-the-meter, carbon-free compute. Eleven non-provisional U.S. patent applications were assigned to the company, with the United States Patent and Trademark Office confirming the recording of the assignment on 22nd June 2026, with the patents currently pending. Cardinal Intellectual Property, a leading patent analytics and valuation firm, valued the Vesari portfolio at approximately US$293 million as of 30th June 2026, valuing Tekcapital's stake at US$149.6 million.
With Tekcapital shares currently trading at 3.6p, for a market cap of just £9.26 million (US$12.64 million), vs reported net assets of c.£147.6 million as at 30th June 2026, it appears that the markets are placing a substantial discount on the company and especially the reported Vesari valuation which is a large, non-cash, model-driven valuation of pre-revenue, patent-pending IP.
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Tekcapital is not a corporate client of Optimo Research Ltd.
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