The Rise of Nootropics: A New Frontier for Early-Stage Investments
There is a company in Silicon Valley called HVMN (pronounced "human") that focuses on biohacking and cognitive enhancement. HVMN develops products referred to as "smart drugs or nootropics".
Nootropics are described as substances—either natural or synthetic—that are designed to enhance cognitive functions such as memory, focus, creativity, or overall mental clarity. Examples include caffeine, L-theanine, and more specialized compounds like racetams or modafinil.
HVMN, originally known as Nootrobox is one of many biohacking startups, operating in a regulatory gray area between prescription drugs and unregulated food supplements. This is due to the nature of their products, which often contain ingredients that fall outside traditional regulatory frameworks. These companies have found a niche between prescription drugs and recreational drugs. Their products are like dietary supplements on steroids.
HVMN's product line includes supplements like "Rise," "Sprint," "Kado-3," and "Yawn." These target specific aspects of brain and body performance, such as memory, energy, mood, and sleep.
Although biohacking has not gained as much traction as expected a few years ago, the movement is still growing. COVID-19 played a role in fueling so-called alternative movements, particularly as faith in institutions has reached its lowest point, especially in the US. This decline reflects a reduced trust in authorities. For example, a 2022 survey found that only 27% of respondents trusted the FDA “a great deal,” while 23% reported that they trusted the FDA “very little” or “not at all.”
The idea of democratizing science—making scientific knowledge, tools, and research accessible to the general public—is undeniably attractive, as it holds the promise of empowering individuals to take charge of their health, education, and innovation. However, it is fraught with many difficulties. Challenges include ensuring the accuracy and reliability of information shared with the public, avoiding the spread of pseudoscience, and navigating ethical concerns about unregulated experimentation. Additionally, making advanced scientific tools and knowledge accessible requires addressing barriers such as cost, technical complexity, and the risk of misuse, which could have unintended consequences for individuals and society at large.
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These products are particularly popular among young people who find illicit drugs less appealing but are still interested in performance-enhancing substances. They are also are popular among students, professionals, and biohackers.
The nootropics category is experiencing significant growth and this burgeoning market is beginning to attract investments from angel investors and early-stage venture capitalists who see potential in its expanding consumer base.
Other popular companies in this market include: