Ben Lamm, CEO and Co-Founder of Colossal, pictured above
| Photo Credit: Colossal Biosciences
Colossal Biosciences, which claims to be the world’s first de-extinction company, announced $200 million in a Series C financing by TWG Global, jointly led by Mark Walter and Thomas Tull.
Colossal launched in September 2021 was founded by software entrepreneur Ben Lamm and geneticist-serial biotech entrepreneur George Church, Ph.D. Since then, the company has raised $435 million in funding. Colossal also said it received a $10 million investment from Lord of the Rings director Peter Jackson.
With the latest round, Colossal has achieved valuation of $10.2 billion.
Furthermore, Colossal said that it was the first company founded and with its headquarters in Texas to become a ‘decacorn,’ or a privately held company with a valuation of more than $10 billion.
The company works on genetic engineering and tech solutions with the goal of bringing back animals that have become extinct, such as the woolly mammoth and the dodo. Apart from de-extinction, Colossal aims to leverage its technology in order to preserve existing species and explore uses-cases in healthcare for humans.
“Our recent successes in creating the technologies necessary for our end-to-end de-extinction toolkit have been met with enthusiasm by the investor community. TWG Global and our other partners have been bullish in their desire to help us scale as quickly and efficiently as possible,” said CEO and co-founder of Colossal, Ben Lamm.
He added that the funding would enable team growth, new technology development, and expansion of the de-extinction species list, as well as current anti-extinction efforts.
Published – January 15, 2025 06:35 pm IST
