⚡Funding Brief⚡ Enveda is a clinical-stage biotech based in Boulder, Colorado. It uses its AI platform, PRISM, to identify drug candidates in natural chemistry from plants and microbes, then develops them into oral medicines. The company says it has produced about 17 development candidates since its 2019 founding, three of which are now in human trials. None has been approved by any regulator. Per the company's press release and TechCrunch on 23 Sep 2026, Enveda raised $311 million in a Series E at a valuation of about $2 billion, according to TechCrunch, roughly double its valuation a year earlier. Catalio Capital Management led the round, with new investors including Durable Capital, ICONIQ, Lightspeed and Surveyor Capital (a Citadel company), and existing backers such as Baillie Gifford, True Ventures and Lux Capital also participating. Total capital raised now exceeds $845 million. The round follows positive early clinical results this year for ENV-294 (atopic dermatitis) and ENV-308 (metabolic health after stopping GLP-1 drugs). Proceeds will move both into later-stage trials, advance ENV-6946 (inflammatory bowel disease) through mid-stage trials, and scale the PRISM platform. Source: Enveda / BioSpace press release, TechCrunch, 2026-09-23