Colossal Biosciences Reportedly in Talks for New Funding Valued Between $20B and $30B

Last year, de-extinction startup Colossal Biosciences unveiled its ambitious mission to “revive” the dire wolf by using genetic materials sourced from fossils. Despite the controversies linked to their initiatives, we maintain that the technologies being developed by the company warrant its impressive $10.2 billion valuation.

Fast forward to around 16 months later, and the startup is reportedly negotiating for new funding, with projected valuations ranging between $20 billion and $30 billion, as reported by Axios.

While specifics regarding the leading investors and the amount of funding being sought by the five-year-old company remain vague, it is confirmed that Colossal has started generating revenue over the past year.

Last year, Colossal co-founder and CEO Ben Lamm shared with TechCrunch that the company expects to establish three main revenue streams.

The company has showcased its conservation technology to both the U.S. government and the UAE, which has invested $60 million in Colossal, according to Wired.

Colossal has also initiated three subsidiaries, including Breaking, a company dedicated to plastic decomposition; Form Bio, a computational biology platform that recently secured $30 million; and Astromech, an AI-driven predictive modeling firm in the life sciences, valued at $2 billion as of March.

Situated in a 55,000-square-foot facility in Dallas, the company is continually investigating new uses for its core technologies. In late April, they added the bluebuck antelope as their sixth target species, while their nonprofit branch, the Colossal Foundation, partnered with the University of Tasmania to combat contagious facial cancers in Tasmanian devils.

Lamm also indicated last year that the company aims to advance its artificial animal womb technology, which could have future applications in human fertility treatments. He mentioned to Rolling Stone in May that this technology is projected to be operational by next year.

Should the company succeed in reintroducing extinct species, like the woolly mammoth and the dodo bird, into their original habitats, it might eventually generate income through the sale of biodiversity credits, similar to carbon credits, as stated by Lamm.

This latest fundraising initiative comes amid a growing interest in longevity technology, alternative energy, and other deep-tech sectors.

Colossal has not yet responded to our inquiry for additional details.