Enveda raises $311 million in Series E, aims to become a household name within 10 years

Enveda, a natural-product drug developer, has raised $311 million in a Series E round, moving closer to its goal of becoming a "household name."

According to U.S. biotech publication Fierce Biotech, Enveda announced on the 24th (local time) that it had closed a $311 million Series E round.

Enveda has raised funds each year, including $130 million in a Series C round in November 2024 and $150 million in a Series D round in September 2025.

With more than $500 million raised across its previous four rounds, Enveda has disclosed clinical data for two drug candidates this year and started human testing of a third.

In a video released alongside the funding announcement, CEO Viswa Colluru said, "Our goal is to deliver medicines that affect the lives of hundreds of millions of people and become a household name within the next 10 years."

In a statement, Colluru also said, "With this funding, we will build the business infrastructure to develop medicines faster and at lower cost, from drug discovery through late-stage development." Enveda believes it can shorten development timelines and reduce costs compared with industry standards by using artificial intelligence (AI).

In Phase 1b data disclosed in July, Enveda's lead candidate, ENV-294, showed an average improvement in eczema severity among patients with atopic dermatitis of 68% at day 28 and up to 85% at day 42. The candidate is currently in Phase 2a trials for atopic dermatitis and asthma.

ENV-308, being developed as an oral drug intended to mimic the effects of exercise, had Phase 1 data in healthy adults disclosed last month. Enveda is testing whether the candidate can help maintain weight loss after discontinuation of GLP-1 drugs.

The third candidate, ENV-6946, is in Phase 1 development as a treatment for inflammatory bowel disease. Enveda plans to use the Series E funding to advance ENV-294 and ENV-308 into late-stage trials and expand them into additional indications, while advancing ENV-6946 through midstage trials.