According to Yahoo News, European biotech startup Cradle has raised $24 million in a Series A funding round, with participation from Index Ventures, Kindred Capital, Chris Gibson, co-founder of Recursion Pharmaceuticals Inc., and Tom Glocer, former CEO of Thomson Reuters Corp. and a Merck & Co. board member. The startup, founded in 2021, has now raised a total of $33 million, including a seed round last year.
Cradle uses generative artificial intelligence to help scientists design and engineer proteins more efficiently and cost-effectively. The company is currently working on over a dozen projects to create a wide range of protein sequences and 3D structures for enzymes, vaccines, lab-grown food, and other materials. Its clients include Johnson & Johnson, Novozymes A/S, and Twist Bioscience Corp., and it has offices in Delft, Netherlands, and Zurich.
Cradle's proprietary generative AI, trained on billions of protein sequences and data generated in its own laboratories, assists biologists in designing improved proteins and accelerating R&D. According to Stef van Grieken, co-founder and CEO of Cradle, the technology leads to fewer, yet more successful experiments, resulting in faster progress. The startup's web-based software also makes it easier for biotech companies to share their data for use in generative AI and machine learning tools. With the new funding, Cradle plans to expand its team and build additional engineering and lab facilities.