Odyssey Secures $6M Investment to Accelerate Growth of Mushroom-Based Energy Drinks

Tapping into Health Benefits

Odyssey, a manufacturer of mushroom-based functional energy beverages, has raised an additional $6 million in equity investment, bringing its total funding to $14 million since its launch two years ago. The company’s products leverage the health advantages of Lion’s Mane and Cordyceps mushrooms, offering consumers a blend that provides an energy boost along with 2,750 milligrams of mushrooms aimed at enhancing cognitive clarity and focus.

Origins of the Idea

Scott Frohman, the founder and CEO of Odyssey based in Fort Lauderdale, Florida, initially discovered the benefits of certain mushrooms through a friend who was creating a mushroom powder for beverage mixing. Experimenting with adding the powder to his coffee, Frohman noticed improved mental clarity and reduced dependency on additional caffeine. This experience led him to explore developing an energy drink infused with mushroom extracts, aiming to provide consumers with a natural and effective alternative to traditional energy drinks.

Product Development

Frohman’s vision for Odyssey was to create an energy drink that not only delivered the desired boost but also tasted good without compromising on health. Thus, Odyssey’s beverages are formulated with a combination of L-Theanine, ginseng, and green tea caffeine for energy, while minimizing added sugar to reduce the risk of jitters and sugar crashes commonly associated with conventional energy drinks. Recently, the company introduced the Odyssey 222 line, featuring beverages with 222 milligrams of caffeine in addition to the mushroom extracts.

Market Presence and Growth

With distribution in over 5,000 stores, including major retailers like Publix, CVS, and GNC, Odyssey has established a significant presence in the functional beverage market. While specific growth metrics were not disclosed, Frohman noted an uptick in sales, indicating growing consumer interest in the product line.

Riding the Functional Beverage Wave

The global functional beverage market has experienced rapid growth in recent years, driven by increasing consumer demand for healthier alternatives. With the category expected to reach $208 billion by 2027, brands like Odyssey are well-positioned to capitalize on this trend. The company’s focus on leveraging mushrooms and mycelium aligns with broader industry trends, where innovative applications of these natural ingredients span diverse sectors from food to materials.

Strategic Investment and Future Plans

Richard Laver from Rocket Beverage Group has joined Odyssey’s latest funding round as a strategic investor, underscoring confidence in the company’s potential. The capital infusion will primarily support inventory management to sustain distribution efforts and facilitate hiring in sales and marketing. Frohman views Odyssey not merely as a product but as a movement, reflecting the brand’s commitment to providing consumers with natural, functional beverages that support overall well-being.