Enveda raises $311M to accelerate AI discovery of plant-based medicines into human trials

Nature-inspired drug discovery firm Enveda has closed a $311 million Series E funding round, reaching a $2 billion valuation—double what the company was worth just a year ago. The investment was anchored by Catalio Capital Management and included support from Iconiq and other backers.

The approach: Mining nature with machine learning#

Rather than synthesizing compounds in laboratory settings, Enveda's strategy centers on identifying potent therapeutic molecules already present in plants and microbes. Co-founder Viswa Colluru, who previously held an early-stage role at Recursion Pharmaceuticals, launched the company in 2019 to compress the traditionally slow drug-discovery timeline by combining AI screening with natural source material exploration.

Moving toward real-world testing#

Though AI-designed drugs have not yet won FDA approval, Enveda represents a growing cohort of biotech firms that are successfully shepherding AI-identified candidates into human studies. The startup currently has multiple drug candidates undergoing clinical evaluation, spanning treatments for severe dermatological conditions and a potential solution to counter weight regain following discontinuation of GLP-1 medications.