Enveda, a biotech that uses AI to discover drugs from nature, has raised $311 million in a Series E led by Catalio Capital Management, with Iconiq and others participating, at a $2 billion valuation—double its valuation from 12 months earlier. Founded in 2019 by Viswa Colluru, an early Recursion Pharmaceuticals employee, the company is advancing multiple AI-discovered drug candidates into human clinical trials, including a treatment for severe skin conditions and one designed to help maintain weight loss after stopping GLP-1s.