Eywa Biotech Raises USD 2.5 Million Led by Tim Draper to Scale Sustainable Psilocybin Production

Argentine startup Eywa Biotech has raised USD 2.5 million in a seed round led by Tim Draper, the legendary Silicon Valley investor known for early bets on Tesla, SpaceX, and Coinbase. The funding will allow the company to scale the sustainable production of psychedelic compounds, including pharmaceutical-grade psilocybin, to support the next generation of mental health treatments.

Founded in 2022 by Victoria Costa Paz, Eywa Biotech operates from Montevideo, Uruguay, and focuses on producing synthetic and natural psychedelic compounds through biotechnology, aiming to make them clinically viable, scalable, and environmentally responsible.

“Having Tim Draper lead this round in a Latin American, female-founded biotech sends a strong signal,” said Costa Paz. “It’s not just capital—it’s confidence that world-class science and innovation can emerge from this region.”

Scaling sustainable biotechnology for mental health innovation

The USD 2.5 million seed round marks a pivotal moment for Eywa Biotech, as the company accelerates efforts to develop sustainable production systems for compounds such as psilocybin, a naturally occurring psychoactive molecule with growing evidence of therapeutic potential for depression, anxiety, and PTSD.

Eywa’s biotechnological model uses synthetic biology and genetic engineering to decouple production from scarce natural resources. Its biosynthesis cycles last only one to two days, compared to weeks or months using traditional methods, and can reduce costs by up to five times.

This efficiency opens doors for pharmaceutical companies and research institutions worldwide. Eywa has already signed letters of intent with partners in Latin America, North America, and Australia to supply clinical-grade psychedelic compounds.

Tim Draper’s confidence in Eywa Biotech

Draper’s participation in the round follows Eywa Biotech’s success in the “Meet the Drapers” competition, where the startup drew the attention of Draper Cygnus, which initially committed USD 600,000. Draper’s personal decision to lead the full seed round elevated Eywa’s global visibility and validated its mission to transform mental health through biotechnology.

“Tracción, tracción, tracción—that’s what Tim told me three years ago,” recalled Costa Paz. “When we reconnected this year, he understood that our model wasn’t just science—it was scalable impact.”

Expanding a global footprint

With this new capital, Eywa Biotech plans to scale its industrial capacity to 200 liters under GMP validation, optimize genetic processes, and develop new patents. The company will expand its commercial presence across Latin America, the United States, Europe, and Australia, securing international exclusivity through 20-year patent protections.

The startup’s roadmap prioritizes supplying pharmaceutical laboratories and clinical research centers before evolving into a full-scale pharma company that produces affordable, sustainable medications for millions of patients.

“We have 24 months to scale, patent, and prove our model,” said Costa Paz. “Mental health needs innovation now—and Eywa Biotech aims to be synonymous with trust and quality in psychedelic medicine.”