Cannabis Tech Co. Lucid Secures $1.4M In New Capital To Ramp Up Operations
Cannabis tech company Lucid Green has secured $1.4 million in financing. The company plans to utilize the new capital raise to support growth and expansion into new markets."Securing $1.4 million marks a key moment in our journey," Larry Levy, CEO of Lucid Green, said. "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."The move follows the company's $10 million Series B funding round in 2022 led by Gron Ventures, with participation by Gotham Green Partners. That money fueled Lucid Green's growth as it ramped up its client list to 400 cannabis brands nationwide and found its inventory tracking platform for more than 80 million products useful.