Enveda Raises $311 Million for AI Drug Discovery

Sep 24, 2026
Enveda raised a $311 million Series E at a $2 billion valuation to advance drugs discovered from plants and microbes into clinical trials.

Enveda raised a $311 million Series E at a $2 billion valuation, according to TechCrunch. The valuation is twice the figure Enveda reached 12 months earlier.

Catalio Capital Management led the round, with participation from Iconiq Capital and other investors. Enveda uses AI and other methods to identify potential medicines from plants and microbes.

The company is testing several drug candidates in human clinical trials. These include a treatment for severe skin conditions and a drug intended to help patients maintain weight loss after they stop taking GLP-1 medicines.

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