# Psylo

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/psylo-pty

- Industry: Biotechnology
- Headquarters: Sydney, Australia
- Website: www.psylo.bio
- Total disclosed funding: $10M
- Latest round: Seed (May 20, 2024)
- Investors on record: 10

## About

Based in Sydney, Australia, and founded in 2021, Psylo focuses on the development of psychedelic-inspired medicine to treat mental illness, with an initial USD 1.1 million in the capital. The Chief Scientific Officer, Samuel Banister, is formerly the team leader in medicinal chemistry at the Brain and Mind Centre at the University of Sydney.

The company focuses on psychedelic-assisted therapy using psilocybin, which is being evaluated as a potential treatment for severe mental illness. It is developing a shorter-acting version of psilocybin, which normally takes effect for 6-8 hours in duration.

## Funding rounds

- Seed, May 20, 2024, $5M — Gaingels, Palo Santo Venture Fund, XEIA Venture Partners, M8 Ventures, Tenmile, Mystic Ventures
- Seed, Oct 27, 2022, $5M — Main Sequence Ventures, Lionheart Ventures, Negev Capital, XEIA Venture Partners, CaraMed Capital

## Investors

- Main Sequence Ventures (https://capitalatlas.ai/funds/main-sequence-ventures) — Seed
- Lionheart Ventures (https://capitalatlas.ai/funds/lionheart-ventures) — Seed
- Negev Capital (https://capitalatlas.ai/funds/negev-capital) — Seed
- XEIA Venture Partners — Seed
- CaraMed Capital (https://capitalatlas.ai/funds/caramed-capital) — Seed
- Gaingels (https://capitalatlas.ai/funds/gaingels) — Seed
- Palo Santo Venture Fund (https://capitalatlas.ai/funds/palo-santo-venture-fund) — Seed
- M8 Ventures (https://capitalatlas.ai/funds/m8-ventures) — Seed
- Tenmile (https://capitalatlas.ai/funds/tenmile) — Seed
- Mystic Ventures (https://capitalatlas.ai/funds/mystic-ventures) — Seed