Colossal Biosciences in Discussions for Multi-Billion Dollar Capital Raise

Colossal Biosciences: A Leader in De-Extinction Technology

When Colossal Biosciences first announced their ambitious project to bring back the dire wolf using genetic material from fossils, there was no shortage of controversy. However, with valuable technologies at the core of their work, the company’s $10.2 billion valuation seemed justified.

Fast forward 16 months, and Colossal is now reportedly in talks to raise new funding at a staggering $20 billion to $30 billion valuation, according to Axios.

The details of the upcoming funding round remain undisclosed, but sources suggest that the five-year-old startup has begun generating revenue in the past year.

CEO Ben Lamm envisions three main revenue streams for Colossal, including offering conservation technology to government entities and securing investments from countries like the UAE, which recently injected $60 million into the company.

Not content with just one focus, Colossal has also spun out three separate startups: Breaking, a company dedicated to breaking down plastics; Form Bio, a computational biology platform that secured $30 million in funding; and Astromech, an AI-driven predictive modeling company valued at $2 billion.

Operating out of a 55,000-square-foot headquarters in Dallas, Colossal continues to expand its reach. The company recently added the bluebuck antelope as its latest target species and partnered with the University of Tasmania through its nonprofit arm, the Colossal Foundation, to protect Tasmanian devils from a contagious facial cancer.

Looking ahead, Lamm has hinted at plans to spin off the company’s artificial animal womb technology, with potential applications in human fertility treatment. This groundbreaking technology is expected to be ready for use next year.

With ambitions to reintroduce extinct animals like the woolly mammoth and dodo bird to their native habitats, Colossal is exploring revenue opportunities through the sale of biodiversity credits, similar to carbon credits.

As the company gears up for a new round of fundraising, it finds itself amidst a thriving landscape of longevity tech and deep-tech sectors, signaling a promising future ahead.

Despite multiple attempts, Colossal did not respond to requests for comment.

Disclaimer: This article may contain affiliate links. As an affiliate partner, we may earn a commission from qualifying purchases. This does not impact our editorial independence.