Unique data-driven sustainability solution to make global supply chains benefit human health /
Global supply chains are facing tremendous pressure. The demand for ethically sourced products has risen by a factor of 10 since 2012 with no end in sight. Moreover, in the next two years, new US and EU regulations oblige companies to measure, report and mitigate human rights risks in their supply chains. However, reliable data is often unavailable, and current sustainability solutions have proven inadequate in promoting lasting change.
To address this global industry issue, Elucid has created a unique sustainability solution that enables companies to collect reliable data cost-efficiently.
Elucid offers farmers health coverage financed by the companies and collects healthcare, social, and economic data for sustainability and compliance reporting. Elucid’s solution is the first of its kind to assess and mitigate human rights risks in supply chains by improving farmers’ health and reducing poverty. Established in February 2022, Elucid is already providing access to essential healthcare services to 12,000 people in Ghana and Madagascar with the aim to provide such services to 800,000 people in 2025. The commercial appeal of Elucid’s business model is evidenced by the fact that it has already secured multi-year contracts with top-tier manufacturers in the cocoa industry. Moreover, its revenues are paid upfront, de-risking Elucid’s operations and providing business stability. In September 2023, Elucid successfully raised growth capital with the support of FASE.
Learn more about Elucid in a short video: