Enveda, a Boulder, CO-based biotechnology company using AI to translate nature into new medicines, raised $130M in Series C funding.
The round was led by Kinnevik and FPV with participation from new and existing investors Baillie Gifford, Premji Invest, Lingotto Innovation, Lux Capital, Dimension Capital, True Ventures, Cresset Partners, The Nature Conservancy, and Henry R. Kravis.
The company intends to use the funds to deliver clinical catalysts in 2025 and 2026 across multiple programs with commercial opportunities, continue advancing their pipeline of 10 development candidates and multiple discovery programs, and invest in their platform.
Led by Viswa Colluru, Founder and CEO, Enveda is a biotechnology company that uses AI-powered tools to identify and characterize a wide range of molecules produced by living organisms creating a database of chemical biodiversity. By growing, organizing, translating, and searching, the company learns from life’s evolved solutions to address today’s pressing medical needs. In October, Enveda received IND clearance from the U.S. Food and Drug Administration for ENV-294, a novel oral anti-inflammatory agent targeting atopic dermatitis and other inflammatory conditions. ENV-294 subsequently entered Phase I clinical trials at the end of October as the first candidate discovered using the Enveda platform.