Enveda, a biotech startup using AI to discover new drugs from natural sources, raised $311 million in Series E funding at a $2 billion valuation. The fresh capital, led by Catalio Capital Management, doubles the company’s valuation from 12 months ago.
The funding enables Enveda to accelerate the development of nature-derived drugs, leveraging AI to identify potential treatments from plants and microbes. The company’s approach aims to speed up the drug discovery process, which traditionally relies on lab synthesis.
Enveda’s current pipeline includes drugs in clinical trials, such as one targeting severe skin conditions and another designed to support weight loss after stopping GLP-1s. "Our goal is to bring more nature-derived AI drugs into clinical trials," said Viswa Colluru, founder and CEO of Enveda.
The funding follows a growing trend of AI-driven biotech companies advancing drug candidates into human trials. Enveda is among a wave of startups using AI to discover new treatments, despite the fact that no AI-discovered drug has yet received FDA approval.
Enveda did not specify the exact timeline for new drug approvals and highlighted the challenges of translating AI insights into clinical applications. The company plans to continue expanding its pipeline and refining its AI-driven drug discovery methods.
Source: techcrunch
