Enveda Therapeutics raised a $311 million series E, valuing the company at approximately $2 billion as it advances a pipeline of plant-discovered small molecules for inflammatory and metabolic diseases. The financing was led by Catalio Capital Management, according to the report. Enveda, founded in 2019, has now raised more than $845 million in total funding. The new capital supports continued progress toward clinical development, keeping the company’s ethnobotany-to-drug-discovery model in the spotlight as more investors back natural-product-derived platforms. The round adds to momentum in AI- and data-enabled bioplatform funding, but specifically signals continued investor appetite for chemistry-led drug discovery tied to biology and traditional sourcing.