Cradle, a biotech company that uses artificial intelligence (AI) to design proteins, has announced that it has raised $73 million in new funding. This significant investment will be used to build out Cradle’s protein-design AI platform and support the development of its wet lab capabilities.
The funding round was led by a group of prominent investors, including Lux Capital, GV, and Founders Fund. This investment is a testament to the growing interest in AI-powered biotechnology and the potential for Cradle’s platform to revolutionize the field.
Cradle’s protein-design AI platform uses machine learning algorithms to design new proteins with specific functions. This technology has the potential to transform a wide range of industries, including pharmaceuticals, agriculture, and materials science.
The company’s platform is designed to be highly flexible and can be used to design proteins for a variety of applications. For example, Cradle’s platform could be used to design new enzymes for use in biofuels or to create novel proteins for use in pharmaceuticals.
In addition to building out its protein-design AI platform, Cradle will also use the new funding to support the development of its wet lab capabilities. The company’s wet lab will be used to test and validate the proteins designed using its AI platform.
Cradle’s wet lab will be equipped with state-of-the-art equipment and staffed by a team of experienced scientists. The lab will be used to test the function and activity of the proteins designed using Cradle’s AI platform.
The combination of Cradle’s protein-design AI platform and its wet lab capabilities makes it a unique player in the biotech industry. The company’s platform has the potential to revolutionize the field of protein design and to enable the creation of novel proteins with specific functions.
Cradle’s new funding will also be used to support the company’s plans for growth and expansion. The company plans to use the funding to hire new staff, expand its facilities, and pursue new business opportunities.
Cradle’s $73 million in new funding is a significant milestone for the company and a testament to the growing interest in AI-powered biotechnology. With its protein-design AI platform and wet lab capabilities, Cradle is well-positioned to revolutionize the field of protein design and to enable the creation of novel proteins with specific functions.
