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Enveda, which uses AI to find drug candidates in plants and microbes rather than synthesizing them, just doubled its valuation to $2 billion with a Series E round. The startup has moved beyond discovery into human trials—testing drugs for skin conditions and weight loss maintenance.
- Enveda raised $311 million at a $2 billion valuation, doubling its value in 12 months
- The company has multiple drugs in clinical trials, including treatments for severe skin conditions and post-GLP-1 weight loss
- No AI-discovered drug has received FDA approval yet, but Enveda is part of a wave of biotech companies pushing candidates into human testing