Banking & Finance  April 24, 2023

Enveda Biosciences adds $51M to oversized Series B raise

BOULDER — Enveda Therapeutics Inc., the Boulder-based company that does business as Enveda Biosciences, recently added $51 million in equity investment to its December 2022 Series B round, bringing the fundraising total for the now-closed round to $119 million.

Enveda uses artificial intelligence to identify potential therapeutics that occur in nature. Enveda is working on pre-clinical research into treatments for nonalcoholic steatohepatitis and Wilson’s Disease, two conditions where fat and copper build up in the liver.

The Series B round, which comes on the heels of a 2021 Series A round that raised $51 million, was led by existing Enveda investors, but the newly raised $51 million included participation from new investor Henry Kravis, co-founder of KKR & Co. Inc.

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“We are thrilled that the development of our platform and the strength of our pipeline continues to attract great investors even in a difficult market,” Enveda CEO Viswa Colluru said in a prepared statement. “Our investors are leaders in biotech and technology investing, providing the capital to pursue ambitious growth across pipeline and platform. We are poised to advance multiple programs toward clinical development and redefine success in natural product drug discovery.”

To date, Enveda has raised a total of  $175 million in equity investment capital.

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