Cradle raises $73M to speed up protein engineering with AI

Cradle, a protein engineering AI startup based in Amsterdam and Zurich, has raised $73 million in Series B funding. The round was led by investment firm IVP, with participation from existing investors Index Ventures and Kindred Capital. This latest investment brings Cradle's total funding to over $100 million. The company's AI platform helps researchers accelerate protein engineering by making the process simpler and more cost-effective, reducing the time and resources needed to develop improved proteins, according to Cradle. Cradle plans to use the new funding to expand its wet lab facilities and improve its machine learning systems. The company has already partnered with major biotech companies, including Novo Nordisk and Ginkgo Bioworks.