Enveda Raises $311M Series E to Advance Nature-Derived AI Drugs Into Clinical Trials

Enveda Doubles Valuation With $311 Million Series E Funding

Biotech startup Enveda secured $311 million in Series E funding led by Catalio Capital Management, doubling its valuation to $2 billion just 12 months after its previous round1

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. The Boulder, Colorado-based company attracted participation from new investors including Durable Capital Partners, ICONIQ, Lightspeed, Surveyor Capital—a Citadel company—accounts advised by T. Rowe Price Investment Management, Digitalis Ventures, a sovereign wealth fund, and Alderline Group. Existing backers Baillie Gifford, Premji Invest, and Lux Capital also joined the round, bringing Enveda's total capital raised since 2019 to more than $845 million2

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AI-Led Approach to Drug Discovery Targets Nature's Compounds

Enveda deploys an AI platform called PRISM that surfaces therapeutic compounds derived from plants and microbes rather than designing molecules from scratch in laboratories2

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. The system predicts molecular structures from mass spectrometry data, guides laboratory experiments, and ranks candidates by therapeutic potential. Viswa Colluru, who founded Enveda in 2019 after working as an early employee at Recursion Pharmaceuticals, explained the company's philosophy: "The industry has gotten really, really good at commercializing a molecule once you know it's right, but has increasingly gotten worse at finding the right molecule. We're letting AI lead the way for answers that already exist in nature"2

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Advancing Drug Candidates Into Clinical Trials With Promising Results

Since launching its AI-driven drug discovery platform, Enveda has generated 17 drug candidates, with three AI-discovered drug candidates now in human trials2

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. Two nature-derived AI drugs produced positive early clinical results in 2026. ENV-294, a once-daily pill targeting atopic dermatitis, reduced eczema severity by an average of 85% after 42 days in a Phase 1b study, with no serious side effects reported2

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. Phase 2 trials are currently underway for this compound. ENV-308, developed to help patients maintain weight loss maintenance after stopping GLP-1 medications, demonstrated good tolerability in 88 healthy volunteers with a favorable gastrointestinal side-effect profile2

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. A third candidate, ENV-6946, targets inflammatory bowel disease and is in Phase 1 testing.

Strategic Investments Position Enveda Among AI Drug Discovery Leaders

The fresh capital will fund the progression of Enveda's three clinical-stage candidates into later-stage development, bring additional medicines into clinical trials for inflammatory and metabolic conditions, and expand the company's AI platform2

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. George Petrocheilos, co-founder and managing partner of Catalio Capital Management, joined Enveda's board of directors in connection with the financing. Alex Gorsky, a general partner at ICONIQ and former chief executive of Johnson & Johnson, cited the rate of Enveda's pipeline progression as a key factor in his firm's investment decision2

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. Over the past year, Enveda strengthened its clinical development leadership by hiring Nadeem Sarwar, Novo Nordisk's former head of disease prevention, among other executives with experience taking first-in-class medicines through late-stage trials2

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. While AI hasn't yet produced any FDA-approved drugs, Enveda joins the wave of companies advancing AI-discovered candidates into human clinical trials1

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, positioning itself at the forefront of a potential transformation in pharmaceutical development.