Enveda raises $55M to accelerate drug discovery with AI

June 14, 2024: Enveda Secures $55M to Boost AI Drug Discovery - Boulder, Colorado-based startup, Enveda Biosciences, has attracted $55 million in funding led by Microsoft and others to enhance its AI-driven drug discovery platform. The company focuses on exploring the vast, largely untapped dark chemical space for new medications, leveraging a unique database of small molecules primarily from plants and an advanced AI model to accelerate the research process. The funds will further develop its platform and support clinical trials for new treatments for skin conditions and bowel disease, utilizing technologies like tandem mass-spectrometry and Transformer-based AI models.