The company hopes to create “trust and transparency” in the cannabis space
Technology platform Lucid Green, Inc. has announced that it is creating a solution it says plagues a cannabis industry’s direct-to-consumer problem. It has completed a seed funding round for a program that will deliver education and loyalty platforms for the marijuana industry. The funding round was so successful that the company halted it early after receiving more investments than it had anticipated.
Lucid Green pulled the plug on the funding round after just over $1 million had been received. The company indicates that it will use the funds to create a platform that merges physical products with the digital world, creating an innovative solution for providing security and stability for the advancement of the marijuana ecosystem.
According to company co-founder and CEO Larry Levy, “Leveraging IoT, blockchain and token technologies, Lucid Green’s innovative platform creates an information, education and rewards ecosystem that drives transparency across the cannabis industry.”
The company’s other co-founder and president, Paul Botto, added, “We’re creating a standard that addresses a huge need in the cannabis industry – solving how brands connect directly with consumers and budtenders alike, to deliver a better consumer experience.”
The company has already launched its services in Washington State and Colorado. To help it meet its goal, it has partnered with a number of brands, including Iconic, 14’er and incrediblesCBD. Rick Scarpello, co-founder and CEO of incrediblesCBD, states, “incredibles’ top-of-the-line products truly offer a premium option for consumers because we control every aspect of production. We’re excited to partner with Lucid Green to deliver transparency of our production practices to customers through the platform. We know Lucid Green will be sought out by consumers who demand the best and want to be rewarded for seeking our product quality and education.”