The startup provides a platform that utilizes blockchain technology to ensure product authenticity and quality assurance in the cannabis industry. By facilitating direct interactions among consumers, brands, and retailers, the platform enhances transparency and compliance in a rapidly evolving regulatory environment.
Funding
$16.1M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
The cannabis industry faces challenges in maintaining transparency and ensuring product authenticity throughout the supply chain, from seed to consumption. Manual data entry, secondary stickering, and a lack of standardized tracking methods lead to inefficiencies, increased costs, and potential compliance issues.
Solution
Lucid Green provides a platform, LucidID, that leverages intelligent UPCs and QR codes to streamline cannabis supply chain management, enhance transparency, and facilitate direct consumer engagement. The platform enables brands to upload product information, print regulatory labels with unique LucidIDs, and track products from creation to the point of sale. Retailers can then scan the CaseID upon delivery, automatically adding the product to their POS system and eliminating manual data entry and secondary stickering. Consumers can scan the LucidID to access product information, verify authenticity, and participate in loyalty programs.
Target Audience
Lucid Green targets cannabis brands seeking to streamline supply chain processes, reduce costs, and enhance consumer engagement, as well as cannabis retailers aiming to optimize inventory management, improve efficiency, and ensure compliance.
Features
- LucidSource: A user-friendly product management platform for brands to upload product information and create regulatory labels.
- CaseID: Enables retailers to quickly add products to their POS system by scanning a single code, reducing truck-to-shelf time.
- LucidID App: Allows consumers to scan product QR codes to access COAs, product information, and brand rewards programs.
- InventoryAI: Automates inventory management for retailers by automatically updating product information from brands.
- LucidRetail Mobile: A mobile scanning solution designed to enhance operational efficiency for brands.
- GS1 Digital Link compliance: Ensures seamless integration with global supply chains, enhancing product traceability and safety.
- LucidConnect: A consumer marketing suite for direct communication, rewards programs, and data collection.