Key facts
- Colossal Biosciences is reportedly in talks to raise new funding.
- The startup is seeking a valuation of $20 billion to $30 billion.
- Colossal has begun generating revenue in the past year.
- The company has spun out subsidiaries focused on plastic breakdown, computational biology, and AI-driven predictive modeling.
- One subsidiary, Astromech, was valued at $2 billion in March.
- Colossal is developing artificial animal womb technology with potential applications in human fertility treatment.
De-extinction startup Colossal Biosciences is reportedly in discussions to raise new funding at a valuation of $20 billion to $30 billion, according to Axios. This represents a significant increase from its previous valuation of $10.2 billion. The company, which aims to resurrect extinct animals like the woolly mammoth and dodo bird, has reportedly begun generating revenue over the last year.
Colossal has also been developing and spinning out various technologies. Its subsidiaries include Breaking, focused on plastic breakdown; Form Bio, a computational biology platform that secured $30 million in funding; and Astromech, an AI-driven predictive modeling company valued at $2 billion in March. CEO Ben Lamm has also indicated plans to spin off the company's artificial animal womb technology, which could have applications in human fertility treatment.
Beyond its core de-extinction efforts, Colossal has offered its conservation technology to governments, including a $60 million investment from the UAE. Lamm has suggested that successful reintroduction of extinct species could eventually lead to revenue from biodiversity credits, a market mechanism similar to carbon credits. The company's fundraising efforts are occurring within a broader market boom for longevity tech, alternative energy, and other deep-tech sectors.