Top Psychedelic startups to watch in 2024

The psychedelic sector is experiencing a boom, driven by growing recognition of the potential for psychedelics to help with mental health disorders. This burgeoning field, backed by solid scientific research and progressive legislation, is poised to revolutionise the future of psychiatric medicine.

The Top Three

Lophora

Lophora is a drug-development start-up creating rapid-acting treatments for central nervous system diseases, including treatment-resistant depression, leveraging its patented, psilocybin-like proprietary ligands, to change the world of holistic health care.
1
.

Wavepaths

Wavepaths is a start-up leveraging music, art, and psychedelic science to create transformative therapeutic experiences, aiming to enhance mental health and personal growth, for everyone.
2
.

ATAI Life Sciences

ATAI Life Sciences is a global biotech start-up specialising in mental health treatments. They partner with innovative companies to develop diverse therapeutic approaches, including digital solutions and novel drug development.
3
.
1
.

Lophora

Lophora is a drug-development start-up creating rapid-acting treatments for central nervous system diseases, including treatment-resistant depression, leveraging its patented, psilocybin-like proprietary ligands, to change the world of holistic health care.
Why we’re excited:
At Passionfruit we are buzzing with excitement over Lophora's daring and innovative approach to treating central nervous system diseases. Their pioneering use of patented, psilocybin-like ligands to formulate rapid-acting drugs, particularly for treatment-resistant depression, truly has the potential to change the lives of many.
Founded by:
Founded date:
2018
Funding:
$1.5 Million
# Employees:
10 - 50
Location:
Denmark
2
.

Wavepaths

Wavepaths is a start-up leveraging music, art, and psychedelic science to create transformative therapeutic experiences, aiming to enhance mental health and personal growth, for everyone.
Why we’re excited:
At Passionfruit, we're thrilled about Wavepaths' innovative approach to mental health and personal growth. They're harnessing the power of music, art, and psychedelic science, creating immersive experiences that could revolutionise therapy. Their work has the potential to make profound healing more accessible and bring psychedelics into the mainstream.
Founded by:
Founded date:
2018
Funding:
$4.5 Million Seed
# Employees:
1 - 10
Location:
London, UK

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3
.

ATAI Life Sciences

ATAI Life Sciences is a global biotech start-up specialising in mental health treatments. They partner with innovative companies to develop diverse therapeutic approaches, including digital solutions and novel drug development.
Why we’re excited:
We're excited about ATAI Life Sciences' work because they're pushing boundaries in mental health treatments. Their innovative approach, coupling with other companies, allows for a broad spectrum of solutions. They're exploring untapped potential in substances like psilocybin and digital therapeutics, potentially revolutionising mental health care and improving patient outcomes.
Founded by:
Founded date:
2018
Funding:
$93 Million Series C
# Employees:
100 - 200
Location:
Munich, Germany
4
.

Cybin

Cybin is a biotechnology start-up focused on developing psychedelic therapeutics to transform mental health care, targeting conditions like depression, anxiety, and alcohol use disorder.
Why we’re excited:
At Passionfruit, we are excited about Cybin's pioneering approach to mental health care. Their focus on developing psychedelic therapeutics could revolutionise treatment for conditions like depression and anxiety. Their innovative research and commitment to improving patient outcomes represent a promising step forward in the fields of holistic medicines and mental health
Founded by:
Founded date:
2019
Funding:
CA$41 Million Post-IPO
# Employees:
50 - 100
Location:
Toronto, Canada

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5
.

Numinus

Numinus is a healthcare startup focusing on developing and supporting the use of psychedelic-assisted psychotherapies to transform mental health treatments and promote overall wellnes
Why we’re excited:
We're excited about Numinus as they pioneer the exploration of psychedelic-assisted therapies. Their innovative approach could change mental health treatments for the better, offering new, potentially cheaper and more effective solutions to people all around the world!
Founded by:
Founded date:
2019
Funding:
$17.3 Million Post-IPO
# Employees:
100 - 200
Location:
Vancouver, Canada
6
.

COMPASS Pathways

COMPASS Pathways is a UK-based mental health startup pioneering the development of psilocybin therapy for treatment-resistant depression. They focus on creating evidence-based, innovative mental health treatments.
Why we’re excited:
At Passionfruit, we're thrilled about COMPASS Pathways' ground-breaking work. Their innovative approach to mental health, using psilocybin therapy for treatment-resistant depression, has the potential to revolutionise the field. We admire their commitment to evidence-based practices and believe their work could bring hope to many struggling with mental health issues!
Founded by:
Founded date:
2016
Funding:
$80 Million Series B
# Employees:
50 - 100
Location:
Cheshire, UK
7
.

GH Research

GH Research is a biopharmaceutical start-up developing, fast-acting psychedelic compound aimed at transforming the treatment of psychiatric and neurological disorders, particularly depression.
Why we’re excited:
At Passionfruit, we're excited about GH Research's transformative approach to mental health treatment. Their development of the fast-acting psychedelic compound, GH001, could revolutionise the treatment of depression and other psychiatric disorders. We see immense potential in their innovative work and look forward to their contributions to the mental health field.
Founded by:
Founded date:
2018
Funding:
$125 Million Series B
# Employees:
1 - 10
Location:
Dublin, Ireland
8
.

Small Pharma

Small Pharma is a biotech startup focused on developing short-duration psychedelic therapies for severely under-served mental health conditions like Major Depressive Disorder and anxiety.
Why we’re excited:
As Passionfruit, we're very excited about Small Pharma's innovative approach to mental health. Their focus on short-duration psychedelic therapies could revolutionize treatments for Major Depressive Disorder and many other serious mental health conditions. There mission to fast track the development of transformative treatments helps to bring in a world where quality mental health care is accessible to all.
Founded by:
Founded date:
2015
Funding:
970k Total Over 3 Rounds
# Employees:
5 - 15
Location:
London, UK
9
.

Beckley Psytech

Beckley Psytech is a biotech start-up specialising in psychedelic medicine, developing treatments for neuropsychiatric disorders using researched and rigorously tested psychedelic compounds.
Why we’re excited:
Beckley Psytech is pioneering the development of psychedelic medicine, offering new hope for treating neuropsychiatric disorders. Their rigorous research and testing approach ensures responsible, safe treatments. This could revolutionise mental health care, providing relief for conditions traditionally difficult to manage. And this is why we are excited - their work could bring transformative changes in the healthcare industry over the coming years.
Founded by:
Founded date:
2019
Funding:
$84 Million Series B
# Employees:
5 - 20
Location:
Oxfordshire, UK
10
.

Clerkenwell Health

Clerkenwell Health is a London-based start-up specialising in designing and executing clinical trials for psychedelic-assisted therapies aimed at improving the treatment of serious mental health conditions.
Why we’re excited:
Passionfruit is excited about Clerkenwell Health's ground-breaking work in psychedelic-assisted therapies. Their novel approach allows for faster clinical trials of modern drugs, which may redefine mental health treatments as we know them. The potential for such innovative therapies to bring transformative change in mental healthcare is truly invigorating.
Founded by:
Founded date:
2020
Funding:
2.1 Million Seed
# Employees:
1 - 10
Location:
London, UK
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