FUNDING · STARTUPS · #902
Enveda raises $311M Series E to advance AI-discovered natural drugs into clinical trials
Enveda, a biotech startup that uses AI to discover drugs from plants and microbes, raised $311 million in a Series E led by Catalio Capital Management at a $2 billion valuation, with participation from Iconiq. Founded by Viswa Colluru, the company is advancing several AI-discovered candidates into human trials, including treatments for severe skin conditions and a drug aimed at maintaining weight loss after stopping GLP-1s.
KEY POINTS
- Enveda, a biotech startup that uses AI to discover drugs from plants and microbes, raised $311 million in a Series E led by Catalio Capital Management at a $2 billion valuation, with participation from Iconiq.
- Founded by Viswa Colluru, the company is advancing several AI-discovered candidates into human trials, including treatments for severe skin conditions and a drug aimed at maintaining weight loss after stopping GLP-1s.
- The sizeable funding and doubled valuation indicate investor confidence in AI-driven natural-product drug discovery and provide resources to move AI-discovered candidates into clinical trials, a critical step toward regulatory validation.
WHY IT MATTERS
The sizeable funding and doubled valuation indicate investor confidence in AI-driven natural-product drug discovery and provide resources to move AI-discovered candidates into clinical trials, a critical step toward regulatory validation.