Wooly Mammoth startup Colossal seeking at least $20B valuation
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Colossal, the de-extinction company seeking to recreate the dire wolf and wooly mammoth, is in talks to raise new money at a valuation of at least $20 billion, Axios has learned.
- That's up from $10.2 billion in early 2025.
Why it matters: Investors believe its work could be foundational in pharmaceuticals, climate change reversal, and longevity.
Zoom in: The company now has some revenue (it was pre-revenue when it raised its last round), sources say.
- The lead investor could not be learned, but the round is expected to value the company between $20 billion and $30 billion.
- Colossal has discussed the raise for months now, and is nearing a resolution.
Catch up quick: Colossal revealed earlier this year that it had successfully hatched chicks from artificial eggs — paving the way to recreating to South Island giant Moa.
- CEO Ben Lamm told Rolling Stone in May that he expects to create an artificial womb for mammals within a year, opening the door to human usage.
- That's alongside work the company is doing for the U.S. government and Dubai's Museum of the Future on vaults of genetic material from endangered species.
The company has spun off two businesses, plastic degradation company Breaking and DNA analytics software company Form Bio.
The big picture: Colossal's raise comes amid a deeptech boom, as AI drives interest in cutting edge computing, energy technology, and longevity medicines.
The other side: Critics argue that its recreations are more PR stunt than real scientific advancement, with some arguing that its revival of extinct species could have ecological risks.
Colossal Biosciences did not respond to a request for comment.
Alan Neuhauser contributed reporting to this article.
