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