Enveda Raises $311 Million at $2 Billion Valuation for AI Drug Discovery

2 articles · Updated · TechCrunch · Sep 23

$311 million in new Series E funding gives Enveda fresh capital to push its AI-driven drug discovery platform deeper into human testing, valuing the startup at $2 billion.
Catalio Capital Management led the round, with Iconiq and others participating, and the deal doubles Enveda's valuation from 12 months ago.
Founded in 2019 by former Recursion employee Viswa Colluru, Enveda uses AI to mine plants and microbes for drug candidates rather than designing them from scratch in a lab.
Several Enveda drugs are already in patients, including one for severe skin conditions and another aimed at maintaining weight loss after patients stop GLP-1 treatments.
AI has yet to produce an FDA-approved medicine, but Enveda is part of a broader group of biotech companies moving AI-discovered candidates into clinical trials.

Sources

Left100%

TechCrunch2h ago

Enveda Secures $311M Series E, Reaching $2 Billion Valuation for AI Drug Discovery

TU News2h ago

Enveda raises $311 million Series E as AI biotech pushes nature-derived drugs into trials

With zero AI-discovered drugs ever approved by the FDA, will Enveda’s plant-based clinical trials finally break the industry's ultimate losing streak?

Can a newly valued $2 billion AI startup unlock nature's secrets to stop the dreaded weight regain after patients quit GLP-1 drugs?