The ‘shroom boom’: The meteoric rise of the psychedelic medicine industryPublished: Oct. 2021 Over the past 18 months, while most of us were distracted by the pandemic, the psychedelic industry exploded. Companies that had for years quietly pursued research and recruited investors went public. Dozens of startups launched. And venture capitalists began to pay serious attention. An industry that a year ago had a market cap of less than $1B suddenly housed four companies that each individually had a billion dollar valuation.