Enveda has raised $311M in a Series E round led by Catalio Capital Management, bringing total capital raised since inception past $845M. New backers include Durable Capital Partners, ICONIQ, Lightspeed, Surveyor Capital, funds advised by T Rowe Price, Digitalis Ventures and Alderline Group. Existing investors Baillie Gifford, Premji Invest, FPV Ventures, True Ventures, Kinnevik, Dimension, Lifeforce Capital and Lux Capital returned.
The Boulder, Colorado company hunts for medicines inside the chemistry that living things already make. Its platform, PRISM, reads mass spectrometry data to identify biologically active molecules from plants, microbes and other natural sources, then maps them onto disease targets.
The money is earmarked for three jobs. Three clinical-stage medicines move into later-phase development. More candidates enter trials for inflammatory and metabolic conditions. And the platform itself scales.
The round follows two positive early clinical readouts this year for medicines PRISM surfaced. ENV-294 is being tested in atopic dermatitis. ENV-308 targets metabolic health. Catalio co-founder George Petrocheilos joins the board.
Natural products once supplied a large share of modern drugs before high-throughput screening pushed pharma toward synthetic libraries. Enveda’s bet is that most of that chemical space is still unmapped, and that AI can make searching it cheap enough to matter.
The company is now one of the better-funded clinical-stage players in AI-driven discovery. Turning platform output into approved medicines remains the harder test, and the new capital buys time to run it.
