Lucid Green Raises $1.4M in Funding

Lucid Green

Lucid Green, a NYC-based provider of a smart product identifier (SPI) platform for the cannabis supply chain, raised $1.4M in funding.

Backers were not disclosed.

The company intends to use the funds to expand the capabilities of InventoryAI within the LucidID ecosystem, enhancing its value proposition for brands, distributors, and retailers.

Founded in 2018 and led by CEO Larry Levy, Lucid Green is dedicated to improve the cannabis ecosystem. Its flagship platform, LucidID, empowers brands and retailers with solutions for inventory management, enhancing supply chain efficiency and consumer engagement.

The company has over 80 million LucidIDs in circulation and partners with over 400 brands, leveraging its direct-to-consumer (DTC) marketing platform, LucidConnect, to engage with over 200,000 consumers.

This latest achievement followed Lucid Green’s $10M Series B funding in 2022.

Commenting on the news, Larry Levy said: “Our goal remains unchanged: to drive efficiencies in the supply chain and enable smarter, safer, and more transparent cannabis products for consumers.”

FinSMEs

10/07/2024