Psychedelics Company Orthogonal Thinker Closes $6M Seed Round

Orthogonal Thinker, a platform company focused on the use of whole plant products and psychoactive compounds for health and wellbeing, announced Monday the close of an oversubscribed seed funding round of $6 million. The company was valued at $111 million, and received investments from Republic Labs and Pay It Forward, among others.

According to management, the plan is to use the funds to begin Phase I Clinical Trials for Psilly, Orthogonal Thinker’s flagship psychoactive product made with natural formulations. In addition, the company will be using funds to propel its wholly-owned subsidiary, Ei.Ventures, into what they expect will be “the largest American-owned psychedelic company.”

Jason Hobson, co-founder and CEO of Orthogonal Thinker, told Benzinga, “The current health pandemic has resulted in a societal shift in the way we think about our health and the importance access to treatment, both physical health and mental health.  Ei.Ventures believes this is the right time to lean into mental health issues such as mood disorders and addiction, and eventual access to therapeutic treatments from innovations in botanical compounds that have been around for thousands of years.”

Image via Los Cocos.