Fundraising Fox

Mindstate Design Labs

YC S21

San Francisco, US · Founded 2021 · Delaware corporation · 7 employees · 4 known investors

Mindstate Design Labs is a clinical-stage drug development company that uses AI to map the biological basis of emotion and cognition, synthesizing psychedelic phenomenology and biochemical data to design pharmaceutical compounds that induce specific therapeutic emotional and cognitive states for mental health treatment.

Also known as Kykeon Biotechnologies · Kykeon Biotechnologies Inc.

AI & Machine LearningBiotechHealthtechMental HealthArtificial IntelligenceHard TechNeurotechnologyAIUnited States of AmericaAmerica / CanadaPartly Remote

Founders & leadership· Y Combinator alumni (S21)

Mindstate Design Labs was founded in 2021 by Dillan DiNardo and Tom Ray.

DDDillan DiNardo
Dillan DiNardoin𝕏Co-founder · CEOHe previously worked in biotech venture capital.
TRTom Ray
Tom RayinCo-FounderTom Ray holds degrees in biology and chemistry from Florida State University and a PhD in biology from Harvard with a focus on tropical plant ecology. He held faculty positions in biology and computer science at the University of Delaware (1981–1998) and has been a professor of biology and computer science at the University of Oklahoma since 1998, with prior affiliations as external faculty at the Santa Fe Institute and visiting researcher at ATR's Human Information Processing Research Labs in Japan.
RS
Rob Silvain𝕏

Board

RH
Rand Hindiin𝕏Board director

Investors · 4

ImmeasurableLos Angeles · $25K – $100K
MetaplanetTallinn · $500K – $10M
PsyMed VenturesBerkeley
Y CombinatorSan Francisco · $500K

Reported raises · per SEC filings

Form D private placements

$12.7M disclosed across 1 round · 2024

▶$12.7MraisedNov 2024 · 43 investors · Other
Rule 506(b)
Officers, directors & promoters on the filing
  • Dillan DiNardoExecutive Officer, Director
  • Rand HindiDirector
  • Thomas RayDirector
Offering amount
$15.1M
Amount sold
$12.7M
First sale
Nov 2024
Incorporated
Corporation, Delaware, 2020
Federal exemptions
06b
Full filing on SEC EDGAR ↗

Source: SEC EDGAR Form D. Amounts as filed; amended filings shown once at their latest values.

In the news

Psychedelics Without the Trip? Heavyweights Like Neuralink, Coinbase, Twitch Back AI Startup Developing 'Least Psychedelic Psychedelic' Drugfinance.yahoo.com · Oct 2025A Startup Used AI to Make a Psychedelic Without the Trip | WIREDwired.com · Sep 2025Mindstate Design Labs Secures $11.5 Million in Seed Funding for Innovative Psychedelic Therapeutics | Signalbasetrysignalbase.com · Sep 2024FDA gives an early nod to psychedelic research - The Washington Postwashingtonpost.com · Sep 2024Mindstate heads to the clinic with first AI-derived psychedelicfiercebiotech.com · Mar 2024Transforming Psychedelics into Approved Medicinesgenengnews.com · Oct 2022Are Hallucinogen Look-Alikes Illegal? DEA Delay Creates Limbobloomberg.com · Aug 2022Psychedelics Provide New Frontier For Venture Funding, But Nuances Prevailnews.crunchbase.com · Jul 2022

Frequently asked questions

What does Mindstate Design Labs do?
Mindstate Design Labs is a clinical-stage drug development company that uses AI to map the biological basis of emotion and cognition, synthesizing psychedelic phenomenology and biochemical data to design pharmaceutical compounds that induce specific therapeutic emotional and cognitive states for mental health treatment.
Who founded Mindstate Design Labs?
Mindstate Design Labs was founded by Dillan DiNardo, Tom Ray in 2021.
Who are Mindstate Design Labs's investors?
Mindstate Design Labs's investors include Immeasurable, Metaplanet, PsyMed Ventures, Y Combinator.
How much funding has Mindstate Design Labs raised?
Mindstate Design Labs has disclosed $12.7M raised across 1 round.
Where is Mindstate Design Labs headquartered?
Mindstate Design Labs is headquartered in San Francisco, US.