1.6 min readPublished On: May 13th, 2021By News Team
NEW YORK–Lucid Green Inc., today announced funding of $3.1MM from new investors, Bravos Capital, Silverleaf Ventures, and existing investors FGCP and HALLEY Venture Partners. This funding will be utilized to further the adoption of LucidIDs throughout the entire cannabis supply chain and provide seamless, two-way transfer of data at every stop in the cannabis product lifecycle.
LucidIDs deliver benefits to each cannabis stakeholder – from Manufacturer through Distribution to Retail onto the Consumers. We call it the Fungible Universal Product Codes (F-UPC). This is a game-changing initiative for Lucid Green and it’s partners to optimize the cannabis supply chain via a single code.
“As the cannabis industry grows due to legalization, state by state, we have seen increased demand for LucidIDs on packages. Consumers have valued the imperative information and guidance from scanning LucidIDs on cannabis packaging. Brands enjoy direct marketing and reward programs in a highly regulated industry,” says Larry Levy, Co-founder and CEO, Lucid Green. “This round of funding will drive adoption of LucidIDs through supply chain efficiencies.”
This news comes in the wake of many recent initiatives and accomplishments of the company, including:
9MM LucidIDs in the market
60K registered Lucid Green users
50 brands on the Lucid Green platform
“Even at over $20B in US sales, the cannabis industry is still an emerging sector that currently lacks operational efficiencies and mainstream marketing tools. Lucid Green’s platform not only optimizes the supply chain experience from producers to distributors to retailers, but also offers a unique channel for brands to communicate and market directly to consumers, where none previously existed. We are extremely excited to be an enabler of Lucid’s disruptive impact in the cannabis industry.” said Steve Schuman, Managing Director – Halley Venture Partners.
(This information is primarily sourced from Lucid Green. Highly Capitalized has neither approved nor disapproved the contents of this news release. Read our Disclaimer here).
Newsteam at Highly Capitalized are some of the most experienced writers in cannabis and psychedelics business & finance. We cover capital markets, finance, branding, marketing and everything important in between. Most of all, we follow the money.
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