Lucid Green, a Smart Product Identifier (SPI) platform for 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 more than 80 million products with LucidIDs, enabling improved inventory management and product transparency, underpinned by the GS1 Digital Link standard. The platform provides inventory insights and enhances compliance throughout the supply chain. Lucid Green partners with more than 400 brands, using its Direct-to-Consumer (DTC) marketing platform, LucidConnect, to engage with more than 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.
