Colossal Biosciences in talks to raise funds at up to $30B valuation
▼ Summary
– Colossal Biosciences, a de-extinction startup, is in talks to raise new funding at a valuation between $20 billion and $30 billion, up from $10.2 billion.
– The company has started generating revenue over the past year and has three revenue streams, including selling conservation technology to governments.
– Colossal has spun out three startups: Breaking (plastic breakdown), Form Bio (computational biology), and Astromech (AI-driven predictive modeling for biology).
– The company plans to spin off its artificial animal womb technology, which could be used for human fertility treatment, with readiness expected next year.
– If Colossal successfully reintroduces extinct animals like the woolly mammoth, it may generate revenue by selling biodiversity credits.
When de-extinction pioneer Colossal Biosciences first unveiled its plan to bring the dire wolf back from extinction using ancient DNA, skeptics raised eyebrows. But beneath the headline-grabbing premise, the startup was quietly building a suite of transformative technologies that already supported a $10.2 billion valuation. Now, roughly 16 months later, the company is reportedly in talks to raise new capital at a valuation between $20 billion and $30 billion, according to Axios.
Details remain scarce on who might lead the round or exactly how much the five-year-old firm aims to secure. What is clear, however, is that Colossal has begun generating revenue over the past year, marking a significant shift from its earlier research-phase focus.
CEO and co-founder Ben Lamm outlined three primary revenue streams to TechCrunch last year. The company has already begun offering its conservation technology to the U. S. government and the UAE, with the latter recently investing $60 million in the firm, per Wired. Additionally, Colossal has spun out three separate startups: Breaking, which focuses on plastic degradation; Form Bio, a computational biology platform that raised $30 million; and Astromech, an AI-driven predictive modeling company in biology and life sciences valued at $2 billion as of March.
Looking ahead, Lamm told TechCrunch that Colossal intends to spin off its artificial animal womb technology, a breakthrough that could eventually be adapted for human fertility treatments. In a May interview with Rolling Stone, he confirmed that this technology is expected to be ready next year.
If the company succeeds in reintroducing extinct species like the woolly mammoth and dodo bird to their natural habitats, it could also generate revenue through biodiversity credits, a market mechanism similar to carbon credits, Lamm explained.
This new fundraising push comes during a broader boom in longevity tech, alternative energy, and other deep-tech sectors. Colossal did not respond to a request for comment.
(Source: TechCrunch)