Colossal Biosciences Lands $200M at $10.2B Valuation to Recreate Woolly Mammoths
Massive Funding Boost
Colossal Biosciences has raised an impressive $200 million in its Series C funding round, bringing the company's valuation to $10.2 billion. This significant investment comes from TWG Global, led by Mark Walter and billionaire Thomas Tull. Just two years prior, the company's valuation was reported at $1.5 billion, highlighting rapid growth and strong investor confidence.
Ambitious Mission to Restore Extinct Species
The company is on a groundbreaking mission to bring back extinct animals such as the woolly mammoth and the Tasmanian tiger. These ambitious projects are expected to be completed by 2028. By aiming to resurrect these species, Colossal Biosciences seeks to enhance biodiversity and restore natural ecosystems.
Innovative Technologies Driving Success
Colossal Biosciences employs cutting-edge technologies to achieve its goals. The team has mapped the entire genomes of target species and compared them to their closest living relatives. Utilizing CRISPR gene-editing tools, they are editing elephant cells to create embryos that could one day lead to the birth of these ancient creatures.
Strategic Spin-Offs and Future Ventures
To support its mission, Colossal plans to spin off three new businesses in the next two years. One of these will focus on artificial womb technology, which has potential applications in fertility treatments. The company has already launched two spin-offs: Breaking, which helps break down plastics, and Form Bio, a computational biology platform.
Collaboration and Revenue Opportunities
Colossal collaborates with governments by offering its conservation technologies to help preserve endangered species. Some governments are interested in de-extinction projects for cultural and spiritual reasons. Additionally, the company plans to generate revenue by selling biodiversity credits, similar to carbon credits, if they successfully reintroduce these species into ecosystems.
Conclusion
Colossal Biosciences is at the forefront of a scientific revolution, combining ambitious projects with innovative technologies. The substantial funding it has secured underscores the confidence investors have in its vision and potential. As the company progresses towards restoring extinct species and developing versatile technologies, it is set to make significant impacts on biodiversity and various industries.
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