Enveda raises $311 million in a Series E round at a $2 billion valuation, led by Catalio Capital Management with participation from Iconiq and others. The funding doubles the biotech startup’s valuation from 12 months earlier. Founded by Viswa Colluru in 2019, Enveda uses AI to find medicines in plants and microbes and is testing several drug candidates in patients, including treatments for severe skin conditions and weight-loss maintenance after GLP-1 use.
Enveda raises $311 million in a Series E financing led by Catalio Capital Management. The company says the proceeds will advance three clinical-stage medicines into later-phase development and scale its PRISM platform, outlining how it plans to deploy the capital.
Enveda reports positive Phase 1 results for ENV-308 in 88 healthy volunteers. The findings support continued development of the oral small-molecule candidate.
