NEW YORK,
July 10,
2024 /PRNewswire/ -- Lucid Green, the Smart Product
Identifier (SPI) platform transforming the cannabis supply chain,
announced the securing of $1.4
million to fuel its growth and expansion into new markets.
This latest achievement follows Lucid Green's $10 million Series B funding in 2022,
underscoring its continued success in revolutionizing how cannabis
products are managed across the supply chain.
"Securing $1.4
million marks a key moment in our journey," said
Larry Levy, CEO of Lucid Green.
"Year to date, we're experiencing exceptional growth, averaging
10-15% growth month over month. This funding drives us towards
profitability and ubiquity in the markets we operate in."
Lucid Green's proprietary technology has already
powered over 80 million products with LucidIDs, enabling
unparalleled inventory management and seamless product
transparency, underpinned by the GS1 Digital Link standard. The
platform provides critical inventory insights and enhances
compliance throughout the supply chain. Lucid Green partners with
over 400 brands, leveraging its Direct-to-Consumer (DTC) marketing
platform, LucidConnect, to engage with over 200,000 consumers.
With this new funding, Lucid Green plans to
expand the capabilities of InventoryAI within the LucidID
ecosystem, enhancing its value proposition for brands,
distributors, and retailers alike.
"Our goal remains unchanged: to drive
efficiencies in the supply chain and enable smarter, safer, and
more transparent cannabis products for consumers," concluded
Larry Levy, CEO of Lucid Green.
For more information on Lucid Green, visit
www.lucidgreen.io.
About Lucid Green
Founded in 2018, Lucid Green is dedicated to
establishing trust and transparency in the cannabis ecosystem. Its
flagship platform, LucidID, empowers brands and retailers with
innovative solutions for inventory management, enhancing supply
chain efficiency and consumer engagement. With over 80 million
LucidIDs in circulation, Lucid Green continues to lead in advancing
industry standards.
For more information, visit
http://www.lucidgreen.io.
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SOURCE Lucid Green