Odyssey, a pioneering mushroom-based functional energy beverage maker, has secured an additional $6 million in equity investment, bringing its total funding to $14 million since its inception just two years ago.
Harnessing the potent health benefits of Lion’s Mane and Cordyceps mushrooms, Odyssey’s beverages offer not only an energy boost but also 2,750 milligrams of these mushrooms per serving, promoting cognitive clarity and focus.
Research indicates Lion’s Mane’s positive impact on cognitive function and mood, as demonstrated in a 2023 National Institutes of Health pilot study.
Scott Frohman, founder and CEO of Odyssey, discovered the potential of mushrooms through a friend’s homemade mushroom powder. His personal experience of heightened clarity and focus inspired him to explore a more palatable energy drink format. This led to the birth of Odyssey in 2021. Today, Odyssey boasts an array of 11 SKUs, featuring enticing flavors like Passion Fruit Orange/Mango, Dragon Fruit Lemonade, and Blackberry Lemon Twist.
Odyssey’s energy blend comprises L-Theanine, ginseng, and green tea caffeine, ensuring a sustained energy boost with less added sugar to mitigate the typical energy drink side effects. The recent addition of the Odyssey 222 line, with 222 milligrams of caffeine, caters to consumers seeking an extra kick.
With distribution in over 5,000 stores including Publix, CVS, GNC, 7-Eleven, and more, Odyssey’s products are gaining traction. Although specific growth metrics weren’t disclosed, Frohman notes an uptick in sales, with an average of three to five cans sold per week per SKU.
The functional beverage industry has witnessed rapid growth as consumers prioritize healthier options. Projections suggest the global functional soda market could reach $208 billion by 2027, driving investment into innovative brands.
Odyssey’s funding round includes strategic investor Richard Laver from Rocket Beverage Group, alongside existing stakeholders. This collective investment underscores confidence in Odyssey’s vision.
Frohman intends to allocate the funds towards inventory management, sustaining distribution channels, and expanding the sales and marketing team. For Frohman, Odyssey represents not just a product but a movement towards healthier, more sustainable energy solutions.
As the functional beverage landscape evolves, Odyssey stands at the forefront, leveraging the power of mushrooms to redefine the energy drink market and inspire a healthier lifestyle.
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