Lucid is a company focused on digital health and wellness, operating in the digital therapeutics industry. The company's main offering is the creation of digital therapeutics using Emotion AI to improve health and wellness through music, providing personalized and accessible solutions. Lucid primarily serves the healthcare sector, with a particular focus on conditions such as Alzheimer's and stress-related disorders. It was founded in 2017 and is based in Toronto, Ontario.
Lucid's Products & Differentiators
BioMIR stands for Biological Music Information Retrieval. It is scientifically validated machine learning system trained on thousands of users worldwide to learn the human emotional response to music. With this learning, our musicians and audio engineers are able to better understand how features of their music will elicit a particular emotional response.
Expert Collections containing Lucid
Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.
Lucid is included in 4 Expert Collections, including Wellness Tech.
We define wellness tech as companies developing technology to help consumers improve their physical, mental, and social well-being. Companies in this collection play across a wide range of categories, including food and beverage, fitness, personal care, and corporate wellness.
Companies developing artificial intelligence solutions, including cross-industry applications, industry-specific products, and AI infrastructure solutions.
The digital health collection includes vendors developing software, platforms, sensor & robotic hardware, health data infrastructure, and tech-enabled services in healthcare. The list excludes pureplay pharma/biopharma, sequencing instruments, gene editing, and assistive tech.
Mental Health Tech
This collection includes companies applying technology to problems of emotional, psychological, and social well-being. Examples include companies working in areas such as substance abuse, eating disorders, stress reduction, depression, PTSD, and anxiety.
Latest Lucid News
Nov 17, 2023
Lucid Therapeutics Opens Its Doors to Provide Psychedelic Therapy on Milpas Street Lucid Therapeutics, formerly Santa Barbara Ketamine Therapy, opened a new location on Milpas last week. | Credit: Courtesy Share this: Lucid Therapeutics, formerly Santa Barbara Ketamine Therapy, has opened a new location on Milpas Street, providing an alternative, albeit costly, option for trauma resolution, stress relief, chronic pain management, and mental health conditions such as anxiety and depression. Santa Barbara Ketamine Therapy, founded by Dr. Remi Drozd , had only two rooms and met capacity within only a few months, Drozd explained. It was his “first step” into psychedelic therapy, following a 15-year career as an emergency-room physician. “We realized the future is much bigger than ketamine,” he said. “What we’re offering is clarity. It’s more than a psychedelic treatment; it’s therapy; it’s community; it’s a path to healing.” The rebranded clinic — which had its grand opening on Saturday, November 11 — follows on the heels of a local and national charge to decriminalize psychedelics . The movement emphasizes the medicinal benefit of psychedelic substances such as ketamine, a dissociative anesthetic known for its use in both hospitals and veterinary clinics. Ketamine is currently the only legally available psychedelic drug, but other substances, such as MDMA , are on track toward FDA approval. Drozd gave a speech at their VIP launch party on Thursday, saying, “In these walls, people experience the most amazing things we’ve ever seen. People experience the most challenging experiences of their lives.” | Credit: Courtesy Approved for hard-to-treat depression in 2019, ketamine therapy has been shown to result in significant decreases in depression, longer-term efficacy, and more immediate relief compared to antidepressants alone. Justin Sundgot-Smith , a licensed marriage and family therapist working in Goleta, said he endorses this treatment to some of his clients, and he’s not alone. “In situations where it is clinically indicated, I have found ketamine therapy to be an extremely efficacious treatment that can yield transformative results,” Sundgot-Smith said. “And at the same time, it is not a silver bullet and requires an individual to continue to engage in a process of integration to produce the most substantial, long-lasting impact possible.” Lucid’s front lobby greets guests with a moss wall, cream-colored couches, and a peek into a hallway lined with five private treatment rooms. Most rooms are fitted with plush furniture — there’s even an “integration lounge” featuring a zero-gravity chair — meant to create a comfortable, meditative atmosphere for clients. Although there is a growing number of clinics offering ketamine therapy in Southern California, options are limited around the Central Coast. And it’s expensive. Lucid charges $745 for a single ketamine treatment (not including the price of any separate assessment, preparation, or integration sessions). Drozd held launch parties on Thursday, November 9, and Saturday, November 11, to celebrate the opening with colleagues and friends. | Credit: Courtesy Drozd said that while it is pricey, patients receive the quality they pay for, including one-on-one attention from licensed therapists throughout the two-to-three-hour sessions. “We hold your hand,” he added. “And our providers fully show up, instead of booking multiple clients in a row.” Lucid also offers payment plans for the hefty costs, but that is the best most patients can expect in terms of financial assistance —- insurance companies do not typically cover the treatments. But it’s not a standalone issue. Limited accessibility is one of the most common critiques pointed at emerging psychedelic clinics nationwide. According to Lucid’s website, therapy sessions dedicate time to both the experience as well as integration in the latter half of the session. Each treatment is accompanied by “wraparound therapeutic support,” Drozd said, and the clinic offers couples therapy and integration circles in addition to individual sessions. Former clients of Drozd attested to seemingly transformative experiences, saying that they felt stuck, sad, pained, anxious, or stressed before trying ketamine therapy, feelings that they claim were alleviated after treatment. DJ Sacco Nazloomian played EDM tracks for Lucid’s launch parties. | Credit: Courtesy However, it’s not for everyone. Ketamine increases blood pressure and heart rate, alongside other possible long-term and short-term health effects , so it is not recommended for people with serious, preexisting health conditions that may be exacerbated by ketamine use. It also has the potential for misuse, based on its euphoric and dissociative effects, which, although uncommon in the U.S., can lead to physical and psychological dependence, according to an article published by the American Addiction Centers . However, Drozd pointed out that they use an intramuscular administration method in the office, which includes “such small quantities that there have been no symptoms of dependence.” Drozd added that the drug is still “comparatively low-risk,” side effects are often short-lived, and Lucid’s care team is “trained in crisis management and are prepared to deal with any and all peripheral effects of ketamine treatment.” Still, anyone who may be interested in pursuing ketamine therapy is advised to research whether it’s appropriate for their individual needs. If they do decide to try it out, a growing number of California clinics are prepared to provide it. Lucid Therapeutics, 331 N. Milpas St., Ste. 1B; (805) 365-4095; thelucid.life Add to Favorites
Lucid Frequently Asked Questions (FAQ)
When was Lucid founded?
Lucid was founded in 2017.
Where is Lucid's headquarters?
Lucid's headquarters is located at 720 Bathurst St, Toronto.
What is Lucid's latest funding round?
Lucid's latest funding round is Seed VC.
How much did Lucid raise?
Lucid raised a total of $2.5M.
Who are the investors of Lucid?
Investors of Lucid include Relentless Pursuit Partners, Medteq, Ontario Center of Innovation, Reverb Ventures, Hunter Family Foundation and 7 more.
Who are Lucid's competitors?
Competitors of Lucid include Rubato.
What products does Lucid offer?
Lucid's products include BioMIR.
Compare Lucid to Competitors
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Rubato is a company that focuses on providing AI-powered, drug-free, music-led interventions for the senior population suffering from dementia. The company's main service involves using AI to analyze cardiac indicators and music attributes to tailor music treatment for patients, aiming to reduce agitation and the need for antipsychotic medication. Rubato primarily serves the healthcare industry, specifically targeting senior communities and their caregivers. It was founded in 2020 and is based in Los Angeles, California.
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