Enveda Raises $311M to Advance AI-Discovered Nature-Based Drugs

Biotech startup Enveda has raised $311 million in a Series E funding round as it develops new medicines using artificial intelligence and compounds found in nature.

The funding values the company at $2 billion, nearly doubling the valuation Enveda reached a year ago. Catalio Capital Management led the round, with participation from Iconiq and other investors.

AI Meets Nature-Based Drug Discovery

Enveda’s approach focuses on discovering potential medicines from natural sources such as plants and microbes rather than creating compounds entirely through traditional laboratory methods.

The company was founded in 2019 by Viswa Colluru, an early employee at Recursion Pharmaceuticals, to use AI and other technologies to speed up drug discovery.

Drug Candidates Move Into Clinical Trials

While AI has not yet produced an FDA-approved drug, Enveda is among the biotech companies advancing AI-discovered candidates into human testing.

The company is currently developing several drug candidates, including one targeting severe skin conditions and another designed to help maintain weight loss after stopping GLP-1 treatments.

The new funding will support Enveda’s efforts to continue advancing its pipeline of AI-assisted medicines toward clinical development.