Enveda raises $311M Series E to scale AI drug discovery
What's the deal? Enveda Biosciences, a clinical-stage biotech that uses AI to discover medicines from natural chemistry, has closed US$201.2M Series E led by Catalio Capital ManagementDealroom has a profile for this one. Try Dealroom →. The round brings the company's total raised since inception to more than $845 million.
Why now? The financing follows two positive early clinical readouts in 2026 for medicines discovered by PRISM, Enveda's AI-native platform: ENV-294 for atopic dermatitis and ENV-308 for metabolic health.
What's the endgame? Proceeds will push those two candidates into later-stage trials and new indications, advance ENV-6946 through mid-phase trials, and bring additional medicines into the clinic for inflammatory and metabolic conditions. Enveda will also keep scaling PRISM and the automated laboratory that feeds it.
Founder and chief executive officer Viswa Colluru framed the bet plainly: "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."
Who's backing it? The round drew a broad syndicate. New investors include Durable Capital Partners, ICONIQ, Lightspeed, Surveyor CapitalDealroom has a profile for this one. Try Dealroom →, accounts advised by T. Rowe Price Investment Management, Digitalis VenturesDealroom has a profile for this one. Try Dealroom →, and Alderline GroupDealroom has a profile for this one. Try Dealroom →. Existing backers Baillie Gifford, Premji Invest, FPV VenturesDealroom has a profile for this one. Try Dealroom →, True Ventures, Kinnevik, Dimension, Lifeforce CapitalDealroom has a profile for this one. Try Dealroom →, and Lux Capital also joined.
George Petrocheilos, co-founder and managing partner of Catalio Capital Management, has joined Enveda's board of directors.
The signal: The round sits near the top of its category — above the 97th percentile of all US health Series E rounds on record. That scale signals investor conviction that AI-native drug discovery can move candidates from lab to late-stage trials faster and cheaper than traditional pharma, uniting technology and biotech capital behind a single platform.
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