# Enveda raises $311 million at a $2 billion valuation

- Published: 2026-09-23T19:31:28.000Z
- Updated: 2026-09-27T05:28:04.873Z
- Section: Market
- Topics: Business
- Page: https://aidailyjournal.com/en/n/2026/09/23/enveda-raises-311-million-at-a-2-billion-valuation/
- Sources: [TechCrunch](https://techcrunch.com/2026/09/23/enveda-secures-311m-to-bring-more-nature-derived-ai-drugs-into-clinical-trials)

## Summary

Enveda, a biotech that uses AI to discover drugs from the natural world, raised $311 million in a Series E led by Catalio Capital Management, with participation from Iconiq and others. According to TechCrunch, the round doubled the startup’s valuation over 12 months, to $2 billion.

Founded in 2019 by former Recursion Pharmaceuticals employee Viswa Colluru, Enveda seeks to identify medicines in plants and microbes rather than synthesize them from scratch in a lab. The startup is testing several candidates in patients, including one for severe skin conditions and another intended to help maintain weight loss after stopping GLP-1s. No AI-discovered drug has received FDA approval so far, according to TechCrunch.

## Why it matters (editorial interpretation)

The round values Enveda at $2 billion while its AI-discovered candidates remain in clinical trials, and no drug discovered by AI has received FDA approval, according to TechCrunch. That puts the fundraising in a context of strong expectations but still-pending regulatory validation.

_Summary written by AI Daily Journal in its own words, based on the sources above. For details, read the original articles._