The Uber Pioneer: $100 Million Raised, Internationally Funded

The 'Photoshop for molecules'

Traditionally, designing new proteins is a slow, expensive and unpredictable process. Scientists often spend months or even years on trial and error in the lab, with a success rate of just 1% already considered a victory. Cradle's platform, co-founded by Prins in 2021, fundamentally changes this. By leveraging generative AI, scientists can now achieve in days or weeks what previously took years. The platform enables them to 'programme' proteins for specific functions, such as breaking down plastic, capturing CO2, or targeting cancer cells.

The protein engineering market is estimated at more than $4 billion in 2024 and is expected to grow to more than $14 billion by 2030 [1]. The broader market for AI in drug development is even larger, with an anticipated value of more than $16 billion in 2034 [2]. Cradle sits at the intersection of these two exponentially growing markets, with a technology that has the potential to transform the pharmaceutical industry, agriculture and materials production.

"If we are successful, there are a million companies that are all going to solve a piece of the climate problem with our technology," Jelle Prins said in an interview with Innovation Origins [3].

From taxi app to biotech

Jelle Prins's journey to the forefront of the biotech revolution is remarkable. In 2008, as a student in New York, he was approached by the founders of Uber to build the very first app for their ride-hailing service. He was Uber's first employee, and his design for the 'fixed pin in the centre, move the map' interface is now standard in countless apps. After a successful career at Uber, Booking.com and as founder of his own app development agency Moop, which was later acquired by Uber, Prins was looking for a new challenge with an even greater impact.

He found it in the world of synthetic biology. Together with CEO Stef van Grieken and a team of scientists and engineers, he founded Cradle. Prins sees a clear parallel between his work at Uber and his current mission:

"I think Cradle has the potential to make more of an impact than Uber did," he told Innovation Origins [3].

$100 million raised, internationally funded

In November 2024, Cradle raised an impressive $73 million in a Series B funding round led by US investor IVP (Institutional Venture Partners). Existing investors Index Ventures (UK/European) and Kindred Capital (UK) also participated. In total, Cradle has now raised more than $100 million, making it one of the best-funded AI-biotech startups in Europe [4].

What does this mean for new startups?

Cradle's story offers concrete lessons for Dutch startups looking to follow in Prins's footsteps. The opportunities are considerable: the AI-biotech market is growing rapidly, and Cradle demonstrates that Dutch founders can build world-class companies. The platform model Cradle employs, offering technology as a service to pharmaceutical companies and biotech labs, creates a new category. This opens the door for startups focusing on adjacent areas such as AI for drug discovery, materials science or agritech.

The challenges, however, are equally real. Biotech startups have a longer development cycle than software startups. Cradle was founded in 2021 and has now, four years later, raised $100 million, but is not yet profitable. For founders, this means a marathon, not a sprint. In addition, the later funding rounds (a $24 million Series A, a $73 million Series B) require access to international capital markets. This means startups must think and network internationally from day one.

At the same time, Cradle demonstrates that platform technology is a powerful strategy. Rather than developing a single drug or material, Cradle is building a platform that thousands of companies can use. This model offers greater scalability and can grow faster than traditional biotech companies. For new startups, the lesson is: think in platforms, not products. And build an international network from day one, because the greatest growth opportunities lie in access to global capital markets and customers.

The question for the Dutch ecosystem is how to facilitate more success stories of this kind. Cradle proves that the talent and innovation are there. The task now is to mobilise the infrastructure, networks and capital that founders need to grow from local startups into global players.