Coinvest Capital Leads Round for Psylink’s Next-Gen Biotech Solution for Mental Health Innovation
- austejalazaraviciu9
- Jul 29
- 3 min read
Psylink, a Lithuanian startup focused on developing innovative treatments for people facing mental health challenges, raised €501,521 in a pre-seed investment round led by the venture capital fund Coinvest Capital and a syndicate of angel investors.
The capital will be used to advance Psylink’s proprietary biotechnology platform for the sustainable production of plant- and fungi-derived compounds. It will also fuel the screening and evaluation of novel molecular candidates, accelerating the identification of high-potential compounds for further development and preclinical validation.
“At Psylink, we’re developing science-based therapies inspired by nature to help those who haven’t benefited from conventional treatments. We're proud to partner with investors who recognize the urgency and potential of this work. Our multidisciplinary team is united by a clear mission: to create safe, effective, and sustainable solutions for mental health, drawing on the rich diversity of bioactive compounds found in plants and fungi,” said Laura Korsakova, CEO of Psylink.
“Psylink stands out by combining rigorous biotechnology with the therapeutic potential of natural compounds – an approach that is not only innovative but also grounded in strong scientific validation. What impressed us is their ability to bridge traditional wisdom and modern neuroscience. This is exactly the kind of transformative innovation the mental healthcare market urgently needs, and we believe Psylink is well-positioned to lead in this emerging space,” Viktorija Trimbel, Managing Director of Coinvest Capital, noted.
"Psylink’s work with next-generation psychedelic derivatives has the potential to redefine what’s possible for patients facing mental health challenges. I’m honored to support the team at this early stage and to help bring these much-needed therapies closer to those who need them most,” said Erin Gainer, lead of the angel investor syndicate.
Firstpick and BSV also participated in this investment round.
“Psylink is a rare example of deep-tech innovation from our region, addressing a global challenge with scientific clarity and purpose. We’re proud to support a team developing real biotech with the potential to transform how we treat mental health,” commented Sandra Golbreich, Partner at BSV Ventures.
Psylink was established to address a critical gap in the mental healthcare market by developing novel treatments for patients who do not respond to conventional therapies. With an estimated 30–40% of individuals with depression experiencing minimal or no benefit from standard antidepressants, there is a clear and growing demand for more effective, science-driven alternatives – an area Psylink is uniquely positioned to lead. Psylink operates as a deep-tech startup at the intersection of biotechnology, neuroscience, and natural product discovery.
About Coinvest Capital
Coinvest Capital is a sovereign venture capital fund established by the national development bank ILTE. The fund invests public funds of EU and Republic of Lithuania, alongside private investors, in promising European start-ups that create value for Lithuania. Since the beginning of its operations, the Fund, together with its partners, has invested in 48 startups and exited 6 investments. The total venture capital deployed amounts to more than €53.2 million, of which €23.1 million was contributed by Coinvest Capital. Under the profit-sharing model, private co-investors have contributed €12.5 million, while an additional €17.6 million has been invested under the pari-passu model.
The Fund offers a globally unique profit-sharing program, capping its annual return on investments at 4 to 8 percent. In the event of a successful exit, any return exceeding this cap is allocated to accredited private co-investors. Out of the €44.3 million in committed capital entrusted to the Fund, €14.9 million remains available for new investments following this transaction.
About Psylink
Psylink is a biotechnology company focused on developing innovative treatments for mental health disorders. Its R&D strategy is built on two key pillars. Psylink is developing a sustainable biotechnology platform to produce natural compounds, particularly fungi-derived molecules, using engineered yeast cells as biosynthetic “mini-factories.” This scalable and cost-efficient method offers an environmentally friendly alternative to traditional chemical synthesis and extraction processes.
The second pillar focuses on discovering and evaluating novel compounds for conditions like depression and PTSD. By studying psilocybin and related fungal metabolites, Psylink aims to uncover new therapeutic agents through a deeper understanding of their molecular interactions and effects on cellular systems.
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