Odyssey, a mushroom-based energy that is functional maker, raised another $6 million in an equity investment to give it $14 million in total funding since launching its first drink two years ago.
Odyssey’s products tap into the health benefits of Lion’s Mane and Cordyceps mushrooms to produce a drink that combines an energy boost with 2,750 milligrams of the mushrooms to provide clarity that is cognitive focus.
Lion’s Mane, in specific, ended up being demonstrated to impact that is positively function and mood in young adults, according to a 2023 National Institutes of Health pilot study.
Scott Frohman, founder and CEO of Fort Lauderdale, Florida-based Odyssey, first learned about the benefits of certain mushrooms from a friend making a mushroom powder to mix in drinks.
“I started adding it to my coffee, and I realized that everything was more clear,” he told For Millionaires. “The best part was when I got to work, I realized that I didn’t need that second cup of coffee. On top of that, I just felt I was just more was and present in a position to leap to my work.”
However, Frohman performedn’t just like the way the dust impacted the texture and taste of the drinks, and preferred an energy drink delivery, so he began working on Odyssey in 2021. Today, the company has 11 SKUs, including flavors like Passion Fruit Orange/Mango, Dragon Fruit Lemonade and Blackberry Lemon Twist.
The energy in the drinks come from a combination of L-Theanine, ginseng and tea caffeine that is green. And discover less sugar that is added help minimize “the jitters” and sugar crashes typically associated with traditional energy drinks, Frohman said. The company recently introduced the Odyssey 222 line with 222 milligrams of caffeine in addition to the mushrooms.
Over for those who want even more of a caffeine boost 5,000 stores, including Publix, CVS, GNC, Erewhon, 7-Eleven, Thrive Market, Wegmans and Bristol Farms carry Odyssey services and products. Frohman performedn’t offer development metrics, but did state the business is seeing sales grab when it comes to 3 to 5 cans each week per SKU on the market.global functional soda category is expectedGrowth when you look at the beverage that is functional accelerated in recent years as consumers increasingly looked for healthier foods. The* that is( is respected at $208 billion by 2027. That’s inspired new brands to emerge and enticed some endeavor capitalists to buy the industry.
During this time around, we saw companies like healthy soda organizations Poppi and Olipop grab capital in 2022, although the Ryl business lifted $6.7 million at the beginning of 2023 because of its type of useful ready-to-drink beverage.
Odyssey additionally joins a list that is long of leveraging mushrooms and mycelium, the root of the mushroom, to make everything from alternative proteins to leather-like materials to building materials. Companies like Infinite Roots are even mushrooms that are growing commercialization reasons.review of mycelium trends“As the time is without doubt correct, mycelium can make an impression on customers with style, health, useful, scalable and benefits that are impact-related” said PeakBridge CTO Maya Schushan Orgad in a
.
Meanwhile, Odyssey’s funding that is new includes strategic trader Richard Laver from Rocket drink Group, which joins a small grouping of current stakeholders adding 50% associated with complete raised amount.
Frohman Plans to allocate the capital toward inventory to keep distribution going and hiring in the certain areas of sales and marketing.
“We don’t see this as just a product, but a movement that is whole” Frohman stated.(*)
