When the endangered startup Colossal Biosciences revealed last year that it was trying to “resurrect” the monstrous monster from genetic material found in fossilswe argued that despite the controversy surrounding the project, the company was creating valuable technologies that underpinned it 10.2 billion dollars evaluation.
Now, nearly 16 months later, the startup is in talks to raise $20-30 billion in new funding. This was reported by Axios.
It’s unclear who is leading the new round or how much capital the five-year-old company is looking to raise. But according to the report, we know that Colossal has started generating revenue over the past year.
Colossal co-founder and CEO Ben Lamm told TechCrunch last year that the company sees three revenue streams for the business.
The company recently offered its conservation technology to the US government and the UAE He invested 60 million dollars In the company according to Wired.
Colossal has created three startups, including Breaking, a company that helps break down plastics; Form Bio, a computational biology platform that secured $30 million in funding; and Astromech, an AI-based predictive modeling company focused on biological and life sciences 2 billion dollars in March.
Lamm told TechCrunch last year that the company also plans to develop artificial animal womb technology that could be used to treat human fertility. He said in May Rolling Stone the technology is expected to be ready next year.
According to Lamm, if the company can return extinct animals, including the woolly mammoth and the dodo bird, to their native habitats, it could eventually generate revenue by selling biodiversity credits, a market-based mechanism similar to carbon credits.
The new fundraising effort comes amid a boom in longevity technology, alternative energy and other deep technology sectors.
Colossal did not respond to a request for comment.
