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

What the report says

TechCrunch reported that Colossal Biosciences, the Dallas-based de-extinction startup, is in discussions to raise fresh capital at a valuation between $20 billion and $30 billion, citing an Axios report. That would be roughly two to three times the company’s previously reported $10.2 billion valuation. The report did not identify a lead investor or state how much money Colossal is seeking to raise.

Colossal, co-founded and led by CEO Ben Lamm, has drawn attention for efforts to use genetic and reproductive technologies to bring back extinct species or create close proxies, including the dire wolf, woolly mammoth and dodo. TechCrunch noted that Axios reported the five-year-old company has begun generating revenue in the past year. Lamm previously told TechCrunch that Colossal sees three business lines, including conservation technology and potential future biodiversity-credit revenue if reintroduction projects succeed.

The company has also expanded beyond its headline de-extinction work. TechCrunch cited Wired reporting that the UAE recently invested $60 million in Colossal, and said the company has offered conservation technology to the U.S. government and the UAE. Colossal has spun out startups including plastics-focused Breaking, computational biology platform Form Bio and biology modeling company Astromech. It has also added the bluebuck antelope as a target species and, through the Colossal Foundation, partnered with the University of Tasmania on Tasmanian devil conservation.

The possible financing comes as investor interest remains high in deep-tech fields such as biotech, longevity and alternative energy. TechCrunch said Colossal did not respond to its request for comment.