Boulder, Colorado-based Enveda has raised USD 311 million in a Series E financing led by Catalio Capital Management, with proceeds earmarked to advance three clinical-stage programs and scale its AI-driven drug discovery platform. The round brings total capital raised to more than USD 845 million, following a USD 150 million Series D in September 2025. George Petrocheilos, co-founder and managing partner of Catalio, has joined Enveda's board of directors.
New investors include Durable Capital Partners, ICONIQ, Lightspeed, Surveyor Capital (a Citadel company), accounts advised by T. Rowe Price Investment Management, Digitalis Ventures, a sovereign wealth fund, and Alderline Group, alongside existing investors Baillie Gifford, Premji Invest, FPV Ventures, True Ventures, Kinnevik, Dimension, Lifeforce Capital, and Lux Capital. Enveda said proceeds will advance lead oral small molecule ENV-294 and metabolic candidate ENV-308 into later-stage trials, push inflammatory bowel disease candidate ENV-6946 through mid-phase development, and continue scaling its PRISM platform. The financing follows two positive early clinical readouts in 2026 that the company said validated the platform.
PRISM is an AI foundation model trained on mass spectrometry data from living organisms — including approximately 1.2 billion spectra drawn from public academic repositories and Enveda's own internal platform — that predicts molecular structures from spectral data and ranks candidates by therapeutic potential before medicinal chemists refine them into oral drugs. Scientific co-founder Pieter C. Dorrestein is a professor of pharmacology at the University of California, San Diego and a primary architect of the Global Natural Products Social Molecular Networking (GNPS) mass spectrometry ecosystem, one of the repositories from which PRISM's training data was drawn. CEO Viswa Colluru founded Enveda in 2019 after leaving Recursion Pharmaceuticals.