Enveda, the biotech startup using AI to find new drugs in the natural world, has closed a $311 million Series E round at a $2 billion valuation. The funding was led by Catalio Capital Management, with Iconiq and other backers joining in.
The company was founded in 2019 by Viswa Colluru, who came from Recursion Pharmaceuticals. The idea is simple: rather than building drugs from scratch in a lab, Enveda looks to plants and microbes for powerful medicines.
The Funding Facts
The Series E round doubles the valuation Enveda reached 12 months ago.
Catalio led the round, with Iconiq and others taking part. The full list of backers is not public.
What Enveda Actually Does
Enveda uses AI to speed up drug discovery. The company scans the natural world for molecules that could become medicine, then tests them through clinical trials.
The Clinical Pipeline
Enveda is currently running several trials. One targets severe skin conditions. Another is designed to help patients maintain weight loss after stopping GLP-1s.
The State of AI-Discovered Drugs
AI has not yet produced any FDA-approved drugs. But Enveda is part of a wave of companies pushing AI-discovered candidates into human trials.
The Valuation Gap
The valuation doubling in 12 months is a strong signal. Investors believe the science can deliver.
What Comes Next
Enveda has a clear path forward. The company is testing candidates in humans.
Whether the science delivers remains to be seen.
Key Numbers
- Series E round: $311 million
- Valuation: $2 billion
- Funding lead: Catalio Capital Management
- Other backers: Iconiq and others
- Founded: 2019 by Viswa Colluru, former Recursion employee
Comparing the Rounds
| Metric | Current Series E |
|---|---|
| Round | Series E |
| Amount | $311 million |
| Valuation | $2 billion |
| Lead investor | Catalio Capital Management |
| Other backers | Iconiq and others |
The next few years will tell us whether nature, guided by AI, produces the next generation of medicine.
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