Cradle, a biotech start-up specializing in protein design, has raised $73 million in a Series B fundraising round led by IVP, with additional assistance from Index Ventures and Kindred Capital. Founded in 2021 and based in Amsterdam and Zurich, Cradle focuses on using artificial intelligence to accelerate, simplify, and reduce the cost of discovering and developing new proteins. This latest investment raises the company's total funding to more than $100 million, a significant step towards achieving its mission to revolutionize the biotech sector.
Leveraging AI for Protein Engineering
Cradle uses AI-powered tools to solve challenging protein engineering problems. By significantly reducing the number of experimental rounds required, the platform allows researchers to change proteins for desirable features efficiently. For example, Cradle's technology helped a customer enhance the activity of an enzyme fourfold in just three experimental rounds, compared to the traditional ten rounds. This rapid acceleration saves time and money while boosting the chances of success for biotech projects.
It's platform is diverse, catering to industries ranging from pharmaceuticals and chemicals to food and agriculture. It is helpful for various applications, including developing enzymes, antibodies, vaccines, and medicinal proteins. Additionally, customers retain complete ownership of the proteins they produce, with strong security measures to preserve important data.
Expanding Capabilities and Impact
The $73 million investment will improve Cradle's wet lab facilities, expand its engineering and AI research teams, and hire more scientists. The company also intends to develop additional data sets to improve its machine-learning models and handle various difficulties. This investment will allow Cradle to expand its activities and enhance its impact in the biotech sector.
Cradle has grown significantly over the past year, forging agreements with essential businesses such as Novo Nordisk and Ginkgo Bioworks. Its simple SaaS-based business model avoids royalties or IP complications and has been a key factor in its adoption by biotech and pharmaceutical companies.
Aiming for a Global Reach
Cradle's CEO and co-founder, Sef van Grieken, highlighted the company's commitment to using generative AI to tackle global health and environmental challenges. With its current funding, Cradle aims to put its software in the hands of a million scientists, allowing them to develop innovative solutions for pressing global issues.