Colossal Biosciences reportedly in talks to raise new capital at $20B–$30B valuation

De-extinction startup Colossal Biosciences is reportedly in discussions to raise new capital at a valuation of $20 billion to $30 billion. This comes roughly 16 months after the company secured funding at a $10.2 billion valuation.

While details regarding the specific amount of capital being sought and the lead investors have not been disclosed, the Axios report indicates that Colossal has begun generating revenue over the past year. This marks a significant development for the five-year-old company.

Colossal Biosciences has garnered attention for its ambitious projects, including efforts to re-engineer the woolly mammoth and the dire wolf. The company states it is developing technologies that justify such a high valuation.

The reported discussions for a substantial capital raise at a significantly increased valuation suggest strong investor confidence in the potential of de-extinction and genetic engineering technologies, despite ongoing scientific and ethical debates surrounding the field.

Colossal Biosciences aims to leverage advanced genetic technologies for conservation and research purposes, with its valuation reflecting the perceived market potential and technological advancements.