De-extinction startup Colossal Biosciences raises $200 million

Colossal De-extinction
Colossal De-extinction

Colossal Biosciences, a Dallas-based de-extinction startup, has raised $200 million in a Series C funding round. This brings the company’s total funding to $435 million and its valuation to $10.2 billion. Colossal is now the first private startup founded in Texas to achieve decacorn status.

The funding was led by TWG Global, a private equity firm headed by Guggenheim Capital CEO Mark Walter and Legendary Entertainment CEO Thomas Tull. Colossal plans to use the new capital to advance its ambitious de-extinction projects, including efforts to bring back the woolly mammoth, dodo bird, and Tasmanian tiger. “We always believed the company would be a big economic driver,” said Colossal CEO Ben Lamm.

“But we never set out to create a unicorn, decacorn, or whatever the next ‘corn’ is; we were focused on bringing the best minds in science together to solve the extinction crisis.”

Colossal employs 200 people, 170 of whom are scientists. The company has made significant progress in its de-extinction efforts. It has developed the most contiguous and complete ancient genomes for the species it aims to resurrect.

These genomes serve as blueprints for engineering core traits. Work on the woolly mammoth is in the genome editing phase, including efforts with artificial wombs and IVF.

Colossal secures major series C funding

Efforts on the dodo bird focus on creating primordial germ cells, with a goal to complete this phase by mid-2025. The Tasmanian tiger project is also in the genome editing phase, with significant progress made over a two-year span. Colossal’s conservation efforts extend beyond de-extinction.

The company launched a conservation nonprofit last October, raising $50 million to help species like the vaquita and Sumatran rhino. It is also focused on rediscovering the ivory-billed woodpecker, last seen in Arkansas in 2004. The urgency of Colossal’s work is underscored by alarming statistics: about 27,000 species die off each year, and by 2050, more than 50 percent of the world’s species may be extinct.

These extinctions correlate directly with issues like reductions in drinkable water, increases in land desertification, and food insecurity. Several U.S. cities have attempted to lure Colossal away from Texas, but Lamm has affirmed the company’s commitment to remaining in North Texas. “We’ve had interesting subsidy packages offered to us, but we’re very much happy in Texas,” Lamm said.

A multi-year docuseries by director James Reed and Underdog Films is currently documenting Colossal’s de-extinction efforts. “We have cameras following us everywhere we go,” Lamm said, “but it’s important to document this for science and transparency’s sake.”

Maya Johnson

Maya is the editor-in-chief of KillerStartups.com. She provides value to early-stage entrepreneurs through content and her weekly newsletter. Reach her at [email protected]

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