Enveda
Category: AI in Biotech / Drug Discovery
Clinical-stage biotech that uses its PRISM AI foundation model to discover drugs from molecules found in nature. Enveda was founded in 2019. The company is led by Viswa Colluru, PhD. Based in Boulder, United States. Team size: 101-500. Total funding raised: $845M. Latest round: Series E. Key investors include Catalio Capital Management, Premji Invest, Baillie Gifford, ICONIQ, Lightspeed, Durable Capital Partners, T. Rowe Price, Surveyor Capital (Citadel), Kinnevik, FPV Ventures, True Ventures, Lux Capital.
- Founded
- 2019
- Headquarters
- Boulder, United States
- Team size
- 101-500
- Total funding
- $845M
Value proposition
Reads nature's largely unexplored chemistry, the estimated 99% of natural molecules never characterized, using AI plus mass spectrometry. Enveda says this lets it discover first-in-class oral medicines about 4x faster than the industry average. It argues that evolution-derived starting points carry lower toxicity and bioavailability risk.
Products and solutions
PRISM, an AI-native foundation model trained on the chemistry of living organisms that predicts molecular structures from mass spectrometry data, supported by an automated laboratory. Pipeline of 17 programs: ENV-294, an oral molecular glue for atopic dermatitis and asthma, is in Phase 2a. ENV-308 is an oral drug for metabolic health and maintaining weight loss after GLP-1 therapy. ENV-6946 is in the clinic, and further programs are preclinical or IND-enabling.
Unique value
A full-stack, AI-native drug developer that mines natural chemistry (plants, microbes, the human body) rather than designing molecules from scratch. Two AI-discovered medicines have shown positive early clinical readouts in 2026.
Target customer
Patients with inflammatory and metabolic diseases, reached through its own clinical pipeline. The company develops its own therapeutics and may also pursue pharma partnerships.
Industries served
Pharmaceuticals, Immunology & Inflammation, Metabolic disease / Obesity, Dermatology
Technology advantage
PRISM foundation model for structure elucidation from mass spectrometry and metabolomics. Proprietary chemical sequencer and automated lab generating large natural-product datasets. Fast progression from platform to three clinical programs within about 5 years of founding.
How they differentiate
Most AI drug discovery firms, such as Recursion and Insilico, design or screen synthetic molecules. Enveda instead focuses on evolution-shaped natural molecules, decoded by a mass-spec-based AI foundation model. Unlike nutrition-focused Brightseed, it develops prescription therapeutics through clinical trials.
Main competitors
Brightseed, Recursion Pharmaceuticals, Insilico Medicine
Key partnerships
Sanofi (strategic investment in Series C, 2025), Microsoft (investor), The Nature Conservancy (investor), UCSD / Pieter Dorrestein lab (scientific co-founder)
Major milestones
2019: founded. 2020: $5M seed. 2024–25: $150M Series C, including $20M from Sanofi, ENV-294 entered the clinic. Sep 2025: $150M Series D, unicorn status, Mikael Dolsten joined the board. 2026: positive early readouts for ENV-294 (atopic dermatitis) and ENV-308 (metabolic health), ENV-294 entered Phase 2a. Sep 2026: $311M Series E at a $2B valuation.
Growth metrics
Valuation rose from $400M at the Series C (Nov 2024) to $1B at the Series D (Sep 2025) and $2B at the Series E (Sep 2026). Total capital raised is more than $845M. The pipeline has 17 programs, 3 of them in human trials.
Market positioning
One of the best-funded AI-native clinical-stage biotechs, valued at about $2B after its Series E. It is positioned as a leader in AI-driven natural-product drug discovery.
Geographic focus
US-headquartered with operations in Hyderabad, India; global pharma market
About Viswa Colluru, PhD
Ex-Recursion Pharmaceuticals early employee; PhD in cellular and molecular biology (immuno-oncology research). Founded Enveda in 2019.
Latest news about Enveda
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Official website: https://www.enveda.com