Cradle Raises $73 Million in Series B
Cradle, a Netherlands and Switzerland-based biotech company focused on protein design, has raised $73 million in Series B funding.
The round was led by IVP, with participation from previous investors Index Ventures and Kindred Capital.
Institutional Venture Partners (IVP) is a venture capital investment firm that invests in fast-growing technology companies. The firm focuses on later-stage companies and growth equity investments. IVP is based in Menlo Park, California, with offices in London and San Francisco.
The funding will be used to expand Cradle's laboratory facilities and team.
Cradle is a biotech company that leverages artificial intelligence (AI) to accelerate the design and testing of proteins. Founded in 2021, the company focuses on helping biotech and pharmaceutical companies by using AI models to identify protein sequences that enhance specific properties, such as heat resistance or efficacy. Based in Amsterdam, The Netherlands, and Zurich, Switzerland, Cradle’s technology is applied across various industries, including pharmaceuticals, food, chemicals, agriculture, and biotechnology.
Funding Details
Company: Cradle Bio B.V.
Raised: $73.0M
Round: Series B
Funding Date: November 2024
Lead Investor: IVP
Additional Investors: Index Ventures, Kindred Capital
Company Website: https://www.cradle.bio/
Software Category: AI Protein Design