Psychedelic Water, the Toronto-based functional beverage company, is looking to raise a funding round of between $3 million and $5 million and is in discussions with investment banks, its CEO Pankaj Gogia tells Axios.
Why it matters: The global functional beverage market is forecasted to grow to almost $266 billion by 2030, from nearly $119 billion in 2021, according to market research provider InsightAce Analytic.
