Kinnevik participates in Enveda’s USD 150m round

Kinnevik has invested USD 20m in Enveda’s USD 150m Series D funding round. Enveda is a clinical-stage biotech company pioneering the discovery and development of a new generation of small-molecule drugs derived from life’s chemistry.

The company recently hit a key milestone as it’s leading drug candidate, targeting eczema, successfully completed Phase 1a clinical trials and has just entered a Phase 1b clinical trial. This strongly validates the company’s AI-driven drug discovery platform.

In just five years, Enveda has scaled from platform proof-of-concept into one of the fastest-growing techbio companies, advancing a wholly-owned, internally generated pipeline of novel small molecules that now spans discovery through the clinic.

The round was led by Premji Invest with participation from new and existing investors Baillie Gifford, Kinnevik, Peakline Partners, and others. This follows a USD 150m Series C closing in February 2025 that included Sanofi.

The Series D funding will advance multiple clinical programs into Phase 1b and Phase 2 trials across diseases affecting more than 100 million adults in the US alone. The funds will also support new IND filings this year, positioning the company to deliver key clinical milestones across atopic dermatitis, asthma, inflammatory bowel disease, obesity, and more.

Kinnevik first invested in Enveda in mid-2023 and have made three follow-on investments since then, including in the most recent round. 

See NYSE Live inerview with Viswa Colluru, founder and CEO of Enveda: