While the therapeutic psychedelic industry segment grows, plenty of institutional investors seem to be seeing plenty of opportunities in companies that address the needs of the core players in the psychedelics space. Such support directed at ancillary businesses is a tacit acknowledgment that an industry is headed towards maturity and permanency. That trajectory towards maturity gives investors confidence that they may also see decent returns from the ancillary companies, as one music studio has discovered.
Wavepaths was created solely to come up with music customized for psychedelic therapy. The studio bagged $4.5 million in a funding round that closed last week. Anna Rickman and Mendel Kaelen are cofounders of this music studio. They describe their studio as a platform that is leveraging the science-backed use of music to enhance the benefits of psychedelic-assisted therapies.
The platform allows music to be customized to suit every facet of psychedelic trips conducted in clinical settings or at the offices of trained professionals. For example, a therapist can adjust the music to match the mood of patients as they navigate the different stages and experiences triggered by LSD, psilocybin, MDMA and other psychedelic substances. This adjustment is attained with ease, akin to someone adjusting the air conditioning settings inside a room.
The company revealed that it has designed an auditory landscape with the help of artificial intelligence (AI) together with collaborations with several musical artists. The landscape the company has created can be tweaked to mirror every conceivable scenario that could be expected while therapy that is involves psychedelics is taking place.
The adjustments are made possible through the use of the interface of the music platform. A therapist can alter the instrumentation and emotional atmosphere as well as when to activate the psychedelic experience and many other parameters. These changes are made in real time as the session evolves.
The fact that this company managed to attract $4.5 million in seed capital shows how much trust investors have in the future of the medicinal psychedelics sector. Given that companies such as Delic Holdings Inc. (CSE: DELC) (OTCQB: DELCF) are pouring millions of dollars into psychedelic therapeutic formulation development, it isn’t far-fetched to expect that the full potential of this nascent industry is yet to be fully explored and leveraged.
NOTE TO INVESTORS: The latest news and updates relating to Delic Holdings Inc. (CSE: DELC) (OTCQB: DELCF) available in the company’s newsroom at https://ibn.fm/DELCF
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