Enveda raises $311M to bring nature-derived AI drugs to trials

Biotech startup Enveda has raised a $311 million Series E at a $2 billion valuation, doubling its valuation from a year ago. The round was led by Catalio Capital Management with participation from Iconiq. Enveda uses AI to find drugs in plants and microbes and is already testing candidates in patients, including one for severe skin conditions and another to maintain weight loss after GLP-1s.

• $311M Series E led by Catalio Capital Management
• Valuation doubled in a year to $2 billion
• Enveda's drug candidates are already in human trials
• One candidate aims to sustain weight loss after GLP-1s