5 Psychedelic Startups Investors are Flocking To

Page 5 of 5

1. Beckley Psytech

Beckley Psytech is ranked first on our list of 10 psychedelic startups investors are flocking to. The firm develops psychedelic medicines and is based in the United Kingdom. The startup has so far managed to raise more than $33 million in four funding rounds. The latest round was held in May this year. Some of the investors in the company include Bicycle Day Ventures, Noetic Fund, and Bail Capital, among others. The company is one of the oldest psychedelic startups. It was founded in 1998. 

The success of psychedelic startups in the past few years has turned many heads in the pharma industry, with industry giants like AbbVie Inc. (NYSE: ABBV), the American biopharma firm, investing in the sector. Last year, AbbVie Inc. (NYSE: ABBV) purchased the rights to a novel psychedelic-based treatment for major depressive disorder. 

At the end of the first quarter of 2021, 65 hedge funds in the database of Insider Monkey held stakes worth $5.1 billion in AbbVie Inc. (NYSE: ABBV), up from 64 in the preceding quarter worth $4.3 billion.

You can also take a peek at 10 Companies that Benefit From Crypto Mining and 10 Best Nickel Stocks to Buy Now.

Page 5 of 5