Viswa Colluru Co-Founded Enveda Raises $311M in Series E Funding

The round also saw participation from Durable Capital Partners, ICONIQ, Lightspeed, Surveyor Capital, accounts advised by T. Rowe Price Investment Management, Digitalis Ventures, a Sovereign Wealth Fund, Alderline Group, Baillie Gifford, Premji Invest, FPV Ventures, True Ventures, Kinnevik, Dimension, Lifeforce Capital, and Lux Capital.

The company plans to use the funding to advance its drug candidates through clinical trials, bring additional medicines into trials for inflammatory and metabolic conditions, and scale its PRISM platform and automated laboratory.

What is Enveda?

Enveda is a drug discovery company that uses AI to study molecules found in plants, microbes, and the human body.

Its platform is built around PRISM, an AI foundation model trained on the chemistry of living organisms. PRISM analyzes mass spectrometry data to identify and predict the structure of natural molecules, helps guide laboratory experiments, and ranks compounds based on their potential as medicines.

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Enveda's scientists then develop promising molecules into potential oral medicines.

The company focuses on natural chemistry because much of the chemical diversity found in nature has not yet been studied.

How Much Funding Has Enveda Raised?

Enveda has raised more than $845 million in total funding following its $311 million Series E round.

The latest financing was led by Catalio Capital Management and included a broad group of institutional investors.

Why the Funding Matters

Enveda will use the new funding to advance ENV-294 and ENV-308 into later-stage trials and additional indications.

The company also plans to advance ENV-6946 through mid-phase trials and bring additional medicines into clinical trials for inflammatory and metabolic conditions.

Part of the funding will also support the expansion of PRISM and the automated laboratory that supports the platform.

Who founded Enveda?

Enveda was founded in 2019 by Viswa Colluru and is headquartered in Boulder, Colorado.

The company focuses on using AI to study the chemistry produced by living organisms and identify potential new medicines.

Leadership Comments

"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 insight that evolution has already run the largest drug discovery program in history and that the results are now readable with the right AI is the kind of idea we viewed as having platform potential," said Alex Gorsky, General Partner at ICONIQ, Co-founder of Alderline Group, and former Chief Executive Officer of Johnson & Johnson.

Market and Business Growth

Enveda's drug discovery platform is built around PRISM, which analyzes chemical information from living organisms.

The company says nearly half of all oral medicines originate from molecules found in nature, while much of nature's chemical diversity remains unexplored.

Enveda is building a database of chemical biodiversity based on molecules produced by living organisms, which it describes as the “library of life.”

What Happens Next?

Enveda plans to advance its existing drug candidates through later-stage and mid-phase clinical trials while bringing additional medicines into trials for inflammatory and metabolic conditions.

The company will also scale its PRISM platform and automated laboratory as it continues developing medicines from natural chemistry.

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