☁️🍄 Issue No. 036

a unicorn, mental health merch, and AI x psychedelics

October 08, 2023

Welcome back to Headlines, your weekly update on the world of mental health. Let’s get right to it.

QUICK HITS

  • Enlighten me. The KAJI app mixes philosophy, psychology, and AI to spark awakening.

  • On the table. Portland, Maine has voted to partially decriminalize psychedelics. 

  • Baby boom. Kids’ mental health spending soared 26% during the pandemic. 

  • Down the hatch. atai Life Sciences completed a clinical study of oral DMT.  

  • Spooky season. Insurance companies are filling their networks with ghost therapists. 

  • Almighty pod. Sam Harris talks the future of psychedelics with Jeannie Fontana and Robin Carhart-Harris. 

  • Molly for two. Sunstone Therapies is expanding its one-of-a-kind MDMA dyad study. 

  • AI of the beholder. Say hello to Every, the latest AI-powered inner exploration app. 

  • Berry good. Aiberry announces successful clinical study for its AI-powered mental health assessment platform. 

  • On fumes. More than 50% of therapists have experienced burnout in the past year. 

  • From belly to brain. Meet Probi Sensia, a probiotic designed for mental health. [Re-read Issue No. 023: Gut Feelings]

NEWS & TRENDS

1) “Depressed But Make it Hot”

Mental health-themed fashion is en vogue. From antidepressant-branded sweatshirts to “I Hate My Anxiety” trucker hats, retail therapy is getting a whole new meaning. Streetwear brands like Madhappy and The Mayfair Group are quickly becoming influencer staples. And, walking into any retail store, t-shirts emblazoned with “mental health matters” and “self-care club” have become a common sight to see. 

Insensitive or empowering? At its worst, critics say the trend leans exploitative, profiting off the growing prevalence of serious mental health issues and disorders. On the other hand, some say that the rise of mental health merch simply speaks to the broader meme-ification of mental health — Gen Z likes to wear their heart on their sleeve, both literally and figuratively. 

2) Making Headway

Mental health startup Headway is officially a unicorn. The therapist marketplace platform announced last week that it secured $125M in Series C funding in a round led by Spark Capital, with participation from existing investors including Thrive Capital, Accel, Andreessen Horowitz, and more. 

If you’ve been following us for a while, you may remember that we covered this story back in March in Issue No. 007: 2023’s First Unicorn. More than a therapist marketplace, Headway takes a three-pronged approach to combating the shrink shortage. And it’s helping address one of the biggest pain points voiced again and again by therapists — insurance. 

DEALS & DEBUTS

🔌 7wireVentures, a digital health-focused fund, closed $217M. Two-thirds of the fund will be allocated to its existing portfolio companies, including NOCD, Brightline, and more. → source

🧩 Cortica, an all-in-one-autism therapy provider, closed a $40M Series D extension led by CVS Health Ventures.→ source

🤝 Together, an AI-based health assistant, is teaming up with Sonde Health, a vocal biomarker platform, to provide enhanced mental health detection and monitoring. → source, [Re-read Issue No. 015: A Sixth Sense]

💼 Lyra Health, a workforce mental health platform, introduced personalized benefits recommendations to connect users with whole-person health solutions — everything from family care to services for chronic conditions.→ source 

🥼 Tetricus Labs, makers of a machine learning platform for enhancing mental health diagnoses, secured a seed investment from Research Bridge Partners. → source

🦋 MoodRx, a discreet mental health platform, is launching MoodRx Therapy Network (MTN), a service to provide confidential referral services specifically for healthcare workers. → source

📢 MentalHealth.com, a patient-first healthtech company, launched to combat the crisis — simplifying care access, empowering patient choices, and enhancing care quality.→ source

🍄 Numinus Wellness, a psychedelic mental health company, announced a new psychedelic program for individuals suffering from mental distress associated with serious and chronic illness.→ source

WHAT I’M READING

  • Artificial meets otherworldly. The AI boom and the psychedelic renaissance don’t have all that much in common, right? Wrong, argues Neşe Devenot. For one, both involve hallucinations, whether LLM or human. → Journal of Psychedelic Studies

  • Speaking of AI and psychedelics, researchers mined drug forum Erowid and fed the entries into AI. What comes next could pave the way for a new class of psychedelic-based antidepressants. → Pioneer Works

All set. Btw, I’m in NYC for the week! I’ll be at Central Park this afternoon with a few other folks — come say hi if you’re around. 👋

‘Til next Sunday,-Mel