Enveda raises $311m to advance nature-inspired AI drugs into trials

Enveda, a biotech startup leveraging AI to discover drugs from natural sources, has secured $311 million in Series E funding, valuing the company at $2 billion. The round, led by Catalio Capital Management and joined by Iconiq and other investors, more than doubles Enveda’s valuation from 12 months ago. Founded in 2019 by Viswa Colluru, a former employee of Recursion Pharmaceuticals, the company aims to accelerate drug discovery by harnessing compounds from plants and microbes. While no AI-discovered drugs have yet received FDA approval, Enveda is among the firms advancing candidates into human trials. The startup is currently testing several drugs, including one for severe skin conditions and another to aid in maintaining weight loss after discontinuing GLP-1 medications. The funding comes amid growing interest in AI-driven drug development, with Enveda positioning itself at the forefront of this movement. The company’s approach reflects a broader trend in biotech, where AI is being used to streamline the discovery process and reduce reliance on traditional lab synthesis methods. As Enveda moves forward, its success could signal a significant shift in how new medicines are developed and brought to market.