Enveda secures $311M to bring more nature-derived AI drugs into clinical trials
News Source
β’Wed, 23 Sep 2026 19:31:28 +0000
π° What Happened
Biotech startup Enveda has raised $311 million in a Series E funding round. The round values the company at $2 billion. That is double the value it reached 12 months ago.
Catalio Capital Management led the round, with Iconiq and others taking part. Enveda uses AI to find new drugs in plants and microbes instead of making them from scratch in a lab.
The company is already testing several drugs in patients. One targets severe skin conditions. Another is meant to help people keep weight off after they stop taking GLP-1 drugs.
π The Backstory
Viswa Colluru founded Enveda in 2019. He was an early employee at Recursion Pharmaceuticals. He wanted to speed up the search for medicines hidden in nature.
AI has not yet produced any drug approved by the US regulator. Even so, Enveda is one of the companies pushing AI-found treatments into human trials.
Enveda is also near the front of a wave of biotech firms using AI, at a time when investors remain keen on the idea.
π― Why It Matters
New treatments for skin disease and weight loss could help many patients. The funding shows investors still believe AI can find drugs faster.
Biotech startup Enveda has raised $311 million in a Series E funding round. The round values the company at $2 billion. That is double the value it reached 12 months ago.
Catalio Capital Management led the round, with Iconiq and others taking part. Enveda uses AI to find new drugs in plants and microbes instead of making them from scratch in a lab.
The company is already testing several drugs in patients. One targets severe skin conditions. Another is meant to help people keep weight off after they stop taking GLP-1 drugs.
Viswa Colluru founded Enveda in 2019. He was an early employee at Recursion Pharmaceuticals. He wanted to speed up the search for medicines hidden in nature.
AI has not yet produced any drug approved by the US regulator. Even so, Enveda is one of the companies pushing AI-found treatments into human trials.
Enveda is also near the front of a wave of biotech firms using AI, at a time when investors remain keen on the idea.
New treatments for skin disease and weight loss could help many patients. The funding shows investors still believe AI can find drugs faster.