Enveda, a biotech startup leveraging AI to uncover new drugs from the natural world, has raised $311 million in Series E funding at a $2 billion valuation. The round was led by Catalio Capital Management, with participation from Iconiq and others, doubling the company's valuation from just 12 months ago.
Founded in 2019 by Viswa Colluru, a former early employee of Recursion Pharmaceuticals, Enveda operates on the premise that powerful medicines can be derived from plants and microbes rather than synthesized entirely in a lab. The company uses AI and other advanced techniques to accelerate the discovery of these nature-inspired drugs.
While AI has yet to produce an FDA-approved drug, Enveda is part of a growing wave of companies pushing AI-discovered candidates into human clinical trials. The startup is currently testing several drugs in patients, including one targeting severe skin conditions and another aimed at helping patients maintain weight loss after discontinuing GLP-1 treatments.
As of 2026, Enveda's progress reflects the broader maturation of AI-driven drug discovery, with several AI-discovered molecules now in late-stage trials. The company's natural product approach could offer novel mechanisms of action that complement traditional synthetic chemistry, particularly in areas like metabolic health and dermatology where unmet needs remain high.
via TechCrunch AI