Cradle, an Amsterdam, Netherlands-based biotech and AI startup, has raised $24 million in Series A funding.
SaaS Investors
The round was led by Index Ventures, with participation from Kindred Capital, Chris Gibson, Tom Glocer, and others.
Founded in 1996, Index Ventures is a venture capital firm based in San Francisco and London. The firm seeks to invest in companies operating in artificial intelligence, machine learning, business applications, data, entertainment, fintech, the future of work, healthcare, media, mobility, open source, retail, security, and talent sectors.
Cradle Use of Funds
The company will use the new funding to grow the team and sales efforts.
About Cradle
Founded in 2021, Cradle is a biotech company that uses a generative approach to protein design, with AI models analyzing amino acid sequences to create useful and functional proteins. Its technology is designed to significantly reduce the time and number of experiments required for protein development. Cradle helps biologists design improved proteins in record time using powerful prediction algorithms and AI design suggestions.
Funding Details
Company: Cradle Bio B.V.
Raised: $24.0M
Round: Series A
Funding Month: November 2023
Lead Investors: Index Ventures
Additional Investors: Kindred Capital, Chris Gibson, Tom Glocer
Company Website: https://www.cradle.bio/
Software Category: AI-powered Protein Programming Platform
Source: https://techcrunch.com/2023/11/27/cradles-ai-powered-protein-programming-platform-levels-up-with-24m-in-new-funding/