NEW YORK, New York, May 4, 2022 – PRESS RELEASE – Lucid Green, a platform that provides retailers and distributors a touchless inventory management solution, announced three new partnerships with cannabis testing labs and lab information systems (LIMS) to expand full digitization of certifications of analysis’ (COAs) in the cannabis supply chain. The new partnerships with CannaSafe, Cannalysis and LabLynx build on Lucid Green’s existing partnerships with Confident Cannabis and Sonoma Lab Works. Through these new lab and LIMS partnerships, Lucid Green is connected to more than 400 individual labs in the U.S.
This limited data set reinforces the current purchasing behavior, which is fixated on THC levels and basic classifications like sativa, indica or hybrid.
“Lucid Green is committed to increasing trust and transparency at every point of the cannabis supply chain and with consumers,” said Larry Levy, Lucid Green co-founder and CEO. “By expanding our partnerships with cannabis testing lab systems, we are cutting time and money inefficiencies while ultimately giving consumers additional information to allow them to have a better cannabis experience. This industry is not growing because stoners are smoking more weed. It’s growing because your spouse, neighbor [and] parents are beginning to see the benefits of using cannabis and want more information to feel confident about and inform their experience.”
Lucid Green is modernizing the cannabis industry with its signature LucidIDs. These QR codes can make the cannabis supply chain more efficient by allowing for actual truck-to-shelf inventory intake, reducing manual labor and human errors and virtually eliminating data cleanliness issues. The intelligent QR codes permit dynamic information flow, empowering stakeholders to continue adding information about a product through its lifecycle and eliminating the need for secondary stickering.
Last week, Lucid Green announced its $10M Series B led by Gron Ventures, with participation by Gotham Green Partners. Lucid Green also recently launched three new pricing levels for brands, with varying levels of support to accommodate businesses of all sizes. With Lucid Green, brands, retailers, distributors and consumers realize the benefits of a streamlined cannabis supply chain—one that allows for dynamic information sharing, reduces costs and increases transparency and trust for all stakeholders.