Enveda Raises $311M at $2B Valuation for Nature Derived AI Drugs
Enveda raises $311 million at a $2 billion valuation to advance AI discovered medicines from plants and microbes, including candidates now in human trials.
Summary
Enveda raised a $311 million Series E at a $2 billion valuation on September 23, 2026, doubling its valuation in 12 months. Catalio Capital Management led the round, with Iconiq and others participating. Founded in 2019 by former early Recursion Pharmaceuticals employee Viswa Colluru, the biotech uses AI and other techniques to find medicines in plants and microbes rather than synthesize them from scratch.
Enveda is testing several candidates in patients, including one for severe skin conditions and another intended to maintain weight loss after patients stop GLP-1s. The financing is intended to move more nature derived, AI discovered drugs into clinical trials. Enveda joins a group advancing AI discovered candidates into human studies, although no drug created through AI discovery has yet received FDA approval.
Positives
- $311 million in Series E financing gives Enveda fresh capital to advance more nature derived drug candidates into clinical trials.
- Enveda’s $2 billion valuation is twice the valuation it achieved 12 months earlier.
- Several Enveda candidates are already being tested in patients, moving its AI discovery approach beyond laboratory research.
- One candidate targets severe skin conditions, while another aims to preserve weight loss after patients stop GLP-1s.
Risks & concerns
- No AI discovered drug has yet received FDA approval, leaving the broader technology commercially and clinically unproven.
- Enveda’s candidates remain in human clinical testing and have not secured FDA approval.
- Candidate names, trial phases and development timelines were not detailed.