Elucid, aBerlin-based sustainability tech firm, is excited to announce the successful close ofits Seed II funding round. Following the first closing ofthe round in August 2023,the recent investment from UBS Optimus Foundation marks the finalization of Elucid's seed funding round. This investment will help scale Elucid’s geographical reach in Africa and South America, strengthen its centralteam, and further enhance its digital platform. This significant milestone reflects the support ofimpact-focused investors who are backing Elucid's mission to transform supply chains and enhance the health and livelihoods of smallholder producers.
Elucid,founded by Dr.Julius Emmrich and Dr. Samuel Knauss, German neurologists, global health researchers, and digital health experts, pioneers an innovative, data-driven solution. Leveraging technology, Elucid provides companies with reliable data for impact and sustainability reporting, while also enabling healthcare access for smallholder producers in supply chains.
A Strategic Addition to Elucid's Investor Powerhouse
UBS Optimus Foundation, known for its expertise in blended finance and outcomes-based funding has recently joined Elucid's group of impact investors. Including IBB Ventures, Elea Foundation for Ethics in Globalization, Katapult Africa Seed Fund, Atreyu Investments, Aude Ventures GmbH, Imaginal Seeds, FINCA Ventures, and Satrana Ventures, signifying a collective commitment to addressing social challenges within supply chains. Dhun Davar, Head of Social Finance UBS Optimus Foundation and Head of Social Impact & Philanthropy, India and Middle East, said:”UBS Optimus Foundation supports innovative and scalable solutions that seek to tackle the world’s most pressing social and environmental issues. Through our investment in Elucid, we are supporting an initiative that addresses the challenges smallholder farmers face in accessing affordable healthcare while giving major global food manufacturers have more visibility and influence on social impact across their supply chains.”
Early Success and Future Vision
Elucid's distinctive business model effectively serves marginalized communities within supply chains while offering companies opportunities to enhance social impactinitiatives and adopt sustainable practices. Since its inception in February 2022, Elucid has rapidly gained traction in the agri-food and mining sector, providing healthcare access to communities in Ghana, Madagascar, Ecuador, and Venezuela. 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. This funding will enable Elucid to expand its operations in Africa and Latin America, further amplifying its positive impact on the well-being of smallholder producers and supply chain sustainability.
Please find the former press release here for more information on Elucid’s first closing and a detailed description of the co-investors.