Elucid secures funding from UBS Optimus Foundation to close its seed funding round.

Elucid, the sustainability tech firm, has closed its seed II funding round. Following the first closing of the round in August 2023, the investment from UBS Optimus Foundation marks the finalization of Elucid’s seed funding round.

The funding will help the company expand its geographical reach in Africa and South America, strengthen the central team, and further enhance its digital platform to accelerate its mission to transform supply chains and improve the health and livelihoods of smallholder producers.

UBS Optimus Foundation, known for its expertise in blended finance and outcomes-based funding, joins Elucid’s group of impact investors. Including IBB Ventures, elea Foundation for Ethics in Globalization, Katapult Africa Seed Fund, Atreyu Investments, Aude Ventures, Imaginal Seeds, FINCA Ventures, and Satrana Ventures, signifying a collective commitment to addressing social challenges within supply chains. 

Elucid, founded by Dr Julius Emmrich and Dr Samuel Knauss, pioneers an innovative data-driven technology solution that enables companies to collect reliable data for impact and sustainability reporting and also enables healthcare access for smallholder producers in supply chains. The platform addresses pressing challenges in supply chain transparency and farmer well-being.

Since its inception in February 2022, Elucid has rapidly gained traction in the agri-food and mining sector, providing healthcare access to Ghana, Madagascar, Ecuador, and Venezuela communities. Their ambitious goal is to reach over 500,000 families by 2025. Elucid’s strong commercial success, highlighted by long-term contracts with major cocoa and fresh fruit manufacturers, will gain additional momentum from the recent funding round.

Source: Elucid