5 crucial investments of November: Direct Air and Ocean Capture, AI proteins, and photonics
Each month, we list the investments that caught our eye the most.
Published on December 3, 2024
As editor-in-chief, Aafke is ultimately responsible for the content of our platform, but she also likes to get into the pen herself. She is also responsible for the content of our events. She likes nothing better than explaining complicated things in an accessible way and is fond of telling the story of the people behind the technology.
1. Cradle raises $73 million to accelerate adoption of AI-powered protein engineering
Cradle, a platform for AI-powered protein engineering, has raised $73 million in Series B funding to respond to rising demand for its technology in R&D-intensive industries. The round was led by IVP, with participation from previous investors Index Ventures and Kindred Capital. IVP is a North-American investment company, but has a special fund for European tech startups. Today’s funding brings Cradle's total raised over $100 million.
Cradle raises $73 million to accelerate adoption of AI-powered protein engineering
The investment will help Cradle accelerate its mission to empower millions of scientists to engineer more sustainable products and better therapeutics on smaller budgets and with higher success rates.
2. SeaO₂ raises €2 million and will extract gigatonnes of CO₂ from the sea by 2045
Dutch startup SeaO₂, specializing in innovative technology for carbon removal (CO₂) from seawater, has raised €2+ million. Using its pioneering Direct Ocean Capture (DOC) technology, which efficiently removes CO₂ from seawater, the company aims to combat climate change by returning carbon-free water to the ocean, allowing it to absorb more CO₂ from the atmosphere. This funding accelerates the development of SeaO₂'s innovative technology and contributes to the goal of removing 1 megaton of CO₂ by 2030 and 1 gigaton of CO₂ by 2045.
SeaO₂ raises €2 million. Will extract gigatonnes of CO₂ from sea by 2045
Dutch startup SeaO₂, specializing in innovative technology for carbon removal (CO₂) from seawater, has raised €2+ million.
3. The Dutch government strengthens photonics technology in the Netherlands with support PhotonDelta
The Dutch cabinet is bringing forward a contribution of €53.8 million for the National Growth Fund project PhotonDelta, which will further put the Netherlands on the map as a leading player in the global chip industry. Following a positive opinion from the National Growth Fund, this contribution is now being definitively granted earlier than planned. Photonic chips will make it possible to use light instead of electrons to build smaller, faster, and energy-efficient devices.
Dutch government strengthens photonics technology in the Netherlands with support PhotonDelta
Cabinet advances €53.8 million contribution to National Growth Fund project PhotonDelta.
4. Wind-powered carbon capture: Dutch innovation takes flight in Texas
A groundbreaking collaboration between Dutch startup Skytree and US partners is set to revolutionize carbon capture technology. The world's first wind-powered Direct Air Capture (DAC) facility, backed by a €100 million investment, will rise in Texas. This innovative plant will harness wind energy to extract CO2 directly from the atmosphere, demonstrating a significant leap forward in sustainable carbon capture solutions. Initially developed for space technology, Skytree's system is now scaled to tackle Earth's climate challenges. The facility aims to capture substantial amounts of atmospheric CO2 while operating on 100% renewable energy, marking a crucial milestone in the fight against climate change.
Wind-powered carbon capture: Dutch innovation takes flight in Texas
By integrating wind power with Direct Air Capture (DAC) systems, this project aims to reduce atmospheric CO2 levels and showcases the potential of renewable energy in industrial applications.
5. €100 million in additional support for R&D in the Netherlands
During the discussion of the new Dutch Tax Plan, an amendment by CDA, CU, VVD, BBB, and Volt was adopted to structurally increase the budget for the Promoting Research and Development Act (WBSO) by €100 million. This increase is essential for stimulating innovation in the Netherlands, especially within SMEs and startups/scale-ups, which often rely heavily on this scheme. “This makes the WBSO an even more powerful support for innovative companies looking to grow, making it easier for them to invest in research and development,” FME wrote in a statement.
100 million in additional support for R&D in the Netherlands
FME: "The WBSO is a proven successful instrument that is indispensable at a time when there is a strong need for innovation and productivity growth."