Enveda secures $311 million Series E, valuation climbs to $2 billion
Biotech startup Enveda closed a $311 million Series E round, doubling its valuation to roughly $2 billion and earmarking the cash for late-stage drug development and AI platform expansion.
Enveda, a clinical-stage biotechnology company headquartered in Boulder, Colorado, announced the close of a $311 million Series E financing round, which lifts its valuation to about $2 billion. The round was spearheaded by Catalio Capital Management, with participation from new investors such as Durable Capital Partners, ICONIQ, Lightspeed, Surveyor Capital, T. Rowe Price Investment Management, Digitalis Ventures, a sovereign wealth fund, and Alderline Group, alongside existing backers like Baillie Gifford and Lux Capital.
Cumulatively, the company has raised more than $845 million since founding. The capital will fund the progression of three clinical-stage candidates into later phases, broaden its pipeline for inflammatory and metabolic conditions, and expand its AI platform PRISM, which predicts therapeutic molecules from mass-spectrometry data. Since 2019, PRISM has generated 17 candidates, three now in human trials, with two showing strong early outcomes in 2026. New board member George Petrocheilos joined following the financing, and the firm has added senior executives from Novo Nordisk and other pharma leaders.
Why it matters
The funding fuels Enveda's AI-driven drug pipeline, potentially accelerating new treatments for common inflammatory and metabolic diseases.
In this story
