Alexander_Volkov/Getty Images This story is available exclusively to Insider subscribers. Become an Insider and start reading now. The psychedelics industry has ramped up over the past year as institutional investors entered and several companies have gone public. Insider identified the top 14 startups that are working to turn psychedelics into approved medicines for conditions like depression, opioid use disorder, and anxiety. To put together this article, we reached out to companies on our list from last year, used data provided by PitchBook, and talked to VCs in the space. 2020 was a booming year for the psychedelics industry. Money swept through the private side of the space as big names like Atai Life Sciences closed record-breaking rounds of funding and more companies entered, hoping to take part in what could become a $100 billion market, according to a May 2020 report from Canaccord Genuity.