Colossal Biosciences Engages in Discussions for New Funding at Valuation Between $20 Billion and $30 Billion
Last year, de-extinction venture Colossal Biosciences announced its ambition to bring back the dire wolf using genetic data from fossils. While this initiative has sparked debate, we’ve noted that the technological advancements being developed are worth the company’s $10.2 billion valuation.
Fast forward around 16 months, and the startup is reportedly seeking new investment at a valuation estimated between $20 billion and $30 billion, according to recent reports.
Details regarding the lead investors in this funding round and the amount Colossal aims to raise remain unclear. However, it’s been revealed that the company has begun generating revenue over the past year.
Ben Lamm, co-founder and CEO of Colossal, mentioned last year that the company identifies three distinct revenue avenues.
The company has pitched its conservation technologies to the U.S. government and received a $60 million investment from the UAE, as noted in industry reports.
Colossal has also launched three spin-off companies: Breaking, aimed at plastic degradation; Form Bio, a computational biology platform that secured $30 million in investments; and Astromech, a predictive modeling firm in biology and life sciences valued at $2 billion as of March.
Lamm indicated last year that there are plans to develop their artificial animal womb technology, which could potentially benefit human fertility advancements. He mentioned in May that this technology is projected to be operational next year.
If successful in reintroducing extinct species like the woolly mammoth and the dodo to their historical environments, the company may be able to earn revenue through biodiversity credits, a concept akin to carbon credits, as explained by Lamm.
This fundraising endeavor coincides with a surge in sectors focused on longevity technology, alternative energy, and other advanced technologies.
Colossal has yet to respond to inquiries regarding this development.
