Elucid, a Berlin-based sustainability tech firm, has successfully concluded its latest funding round. A group of impact-focused investors has lent their support to Elucid’s mission of revolutionizing global supply chains and enhancing the livelihoods of smallholder farmers in Africa. This investment round aimed to secure funds for Elucid’s innovative solution, which bridges the gap between ethical sourcing and the well-being of farmers.
The investment amount for Elucid’s latest funding round included contributions from a diverse group of investors. Notable participants included the Impact Funds of IBB Ventures, elea Foundation for Ethics in Globalization, Katapult Africa Seed Fund, Atreyu Investments, Aude Ventures GmbH, Imaginal Seeds, FINCA Ventures, and Satrana Ventures. This collective commitment underscores the significant importance of Elucid’s mission in the realm of sustainable supply chains.
Elucid’s primary objective with this investment is to further its mission of improving supply chain transparency and enhancing farmer well-being. The company’s founders, Dr. Julius Emmrich and Dr. Samuel Knauss, both German neurologists, global health researchers, and digital health experts, have developed a data-driven solution to tackle critical challenges in supply chain transparency and farmer welfare.
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Why the Investors Invested
Investors were drawn to Elucid’s mission and solution for several compelling reasons. Firstly, Elucid’s platform offers a dual impact by providing companies with reliable data for impact and sustainability reporting while simultaneously delivering healthcare coverage to farmers within global supply chains. As regulatory requirements for human rights risk assessment and reporting increase nationally and internationally, Elucid’s platform becomes a valuable tool for companies to collect essential health, social, and economic data for regulatory compliance. This dual benefit of regulatory compliance and positive social impact resonated strongly with the investors.
Furthermore, Elucid’s early success is a testament to the practicality and viability of its solution. Since its establishment in February 2022, the company has already extended healthcare coverage to farming communities in Ghana, Madagascar, Ecuador, and Venezuela. Elucid’s ambitious goal is to expand its reach to over 500,000 farmers and their family members by 2025. The company has also secured multi-year contracts with prominent manufacturers in the cocoa and fresh fruit industries, showcasing its commercial viability.
A Look at Elucid
Elucid was founded in February 2022 by Dr. Julius Emmrich and Dr. Samuel Knauss, both esteemed German neurologists, global health researchers, and digital health experts. The company is headquartered in Berlin and operates with a mission to bridge the gap between ethical sourcing and improved farmer health and livelihoods. Elucid achieves this by offering an innovative data-driven solution that addresses challenges in supply chain transparency and farmer well-being.
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Elucid primarily focuses on serving farming communities in Ghana, Madagascar, Ecuador, and Venezuela. With rapid growth in mind, the company aspires to extend its reach to even more farmers and their families, with a goal of positively impacting over 500,000 lives by 2025. Elucid’s success has been underscored by securing multi-year contracts with significant players in the cocoa and fresh fruit industries.
Elucid’s recent funding round signifies strong investor support for its innovative approach to sustainability, supply chain transparency, and farmer well-being. The company’s founders, Dr. Julius Emmrich and Dr. Samuel Knauss, have harnessed their expertise to develop a practical and impactful solution. With a diverse group of impact-focused investors on board, Elucid is poised to continue making a significant difference in the lives of smallholder farmers while reshaping global supply chains.
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Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard