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Enveda Raises $311M Series E at $2B Valuation for AI-Driven Drug Discovery
Key points
- Enveda raised $311 million in Series E funding.
- The company's valuation reached $2 billion.
- Enveda uses AI for drug discovery from natural sources.
- Several AI-discovered drugs are in clinical trials.
Funding Details
Enveda, a biotech startup, announced it has raised $311 million in a Series E funding round. This investment was led by Catalio Capital Management, with additional participation from Iconiq and other investors. The new funding round values Enveda at $2 billion, which is double its valuation from 12 months prior.
AI in Drug Discovery
Founded in 2019 by Viswa Colluru, an early employee of Recursion Pharmaceuticals, Enveda focuses on discovering new medicines from plants and microbes using artificial intelligence. This approach aims to accelerate the identification of potential drug candidates that traditionally would be synthesized in a laboratory.
Clinical Trials Progress
While no AI-discovered drugs have yet received FDA approval, Enveda is among the companies moving AI-identified candidates into human clinical trials. The startup currently has multiple drugs undergoing testing in patients, including one for severe skin conditions and another intended to support weight loss maintenance after GLP-1 treatment cessation.
Industry Context
The funding highlights continued investment in AI applications within the pharmaceutical sector. Enveda's progress in moving candidates to clinical trials represents a step in the broader effort to validate AI's role in accelerating drug development.
✨ This summary was generated by AI from the outlets' reporting listed below. It is not independently verified and may contain errors — check the original sources. How BrevFeed works →
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Reporting from
Enveda, an AI-driven biotech startup, secured $311 million in Series E funding, doubling its valuation to $2 billion. The company uses AI to discover new drugs from natural sources and is advancing several candidates into human clinical trials.