Enveda Raises $311 Million Series E at $2 Billion Valuation for AI Drug Discovery
The biotech startup doubles its valuation in 12 months as it advances plant- and microbe-derived drug candidates through clinical trials.
Biotech startup Enveda has raised a $311 million Series E funding round at a $2 billion valuation, according to reporting by TechCrunch AI (https://techcrunch.com/2026/09/23/enveda-secures-311m-to-bring-more-nature-derived-ai-drugs-into-clinical-trials/).
The financing round was led by Catalio Capital Management, with participation from Iconiq and additional investors. The new figure doubles the valuation Enveda achieved 12 months ago.
Enveda uses artificial intelligence and other computational techniques to identify potential medicines from natural sources, such as plants and microbes, rather than synthesizing molecules from scratch in a laboratory. Viswa Colluru, an early employee at Recursion Pharmaceuticals, founded the company in 2019 to accelerate natural product drug discovery.
Although artificial intelligence has not yet yielded an FDA-approved drug, several startups are advancing AI-discovered candidates into human clinical testing. Enveda is currently evaluating multiple drug candidates in patients, including a treatment targeting severe skin conditions and another candidate intended to help maintain weight loss after discontinuing GLP-1 therapies.
Sources
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