Boulder, Colo. — Enveda has raised $311 million in a Series E financing to advance its clinical-stage drug pipeline and expand its artificial intelligence platform for discovering medicines from naturally occurring molecules.
The financing was led by Catalio Capital Management and included new investors Durable Capital Partners, ICONIQ, Lightspeed, Surveyor Capital, accounts advised by T. Rowe Price Investment Management, Digitalis Ventures, a sovereign wealth fund and Alderline Group. Existing investors including Baillie Gifford, Premji Invest, FPV Ventures, True Ventures, Kinnevik, Dimension, Lifeforce Capital and Lux Capital also participated.
The round brings Enveda’s total capital raised since its founding to more than $845 million. George Petrocheilos, Co-Founder and Managing Partner of Catalio Capital Management, has also joined the company’s Board of Directors.
Enveda said it will use the proceeds to advance ENV-294 and ENV-308 into later-stage trials and additional indications, move ENV-6946 through mid-stage development, bring additional medicines into clinical trials and continue scaling its PRISM platform and automated laboratory operations.
“The pharmaceutical industry has given the world extraordinary medicines, and it has done so at a cost that keeps rising,” said Viswa Colluru, Ph.D., Founder and CEO of Enveda. “We started Enveda on a different premise: the most reliable source of new medicines is the chemistry that living things have been refining for billions of years, and AI finally lets us read it.”
Enveda’s PRISM platform is an AI foundation model trained on the chemistry of living organisms. The system identifies naturally occurring molecules in plants, microbes and the human body, predicts their structures and helps rank them for therapeutic potential. Enveda’s scientists then refine selected candidates into potential oral medicines.
Since 2019, the approach has generated 17 development candidates, three of which are currently in human clinical trials.
The company reported positive early clinical results in 2026 for ENV-294, which is being developed for eczema and asthma, and ENV-308, which is being studied for metabolic health. ENV-6946, an oral treatment targeting multiple inflammatory pathways in inflammatory bowel disease, is in Phase 1 development.
“Enveda is exactly the kind of business we look for at Catalio — a full-stack, AI-enabled platform spanning from discovery all the way to the clinic,” Petrocheilos said. “We think their three ongoing clinical trials, with two already showing therapeutic benefit, validate the platform and prove that Enveda has a repeatable pipeline for creating new medicines.”
Enveda is a clinical-stage biotechnology company using artificial intelligence to discover and develop medicines derived from the chemistry of living organisms.
