Colossal BioSciences has raised $200 million in a new round of funding to further develop its projects to bring back extinct species such as the woolly mammoth, tilapia, and dodo, Venture Beat reports. The company, based in Dallas and Boston, is a pioneer in the field of de-extinction, using modern genetic technology to restore endangered species.
The financing round was led by TWG Global, a diversified holding company led by Mark Walter and Thomas Tall. With this investment, Colossal's total raised funding has reached $435 million and the company's valuation has reached $10.2 billion. The funds will be used to expand the team of more than 170 scientists, develop new technologies, and support additional species recovery projects.
Colossal CEO Ben Lamm emphasized the company's mission to address the biodiversity crisis. "This funding will allow us to scale, expand our list of species to restore and make extinction a thing of the past," he said. The company's work not only aims to restore extinct species, but also stimulates progress in species conservation, human health and ecosystem restoration.
Colossal has not yet managed to bring back extinct animals, but the startup has already had some success. The company claims that the tilapia recovery project implemented in Australia and Texas has reached 99.9% of the completed genome and sequenced the genomes of related marsupial species, paving the way for its future recovery. Similarly, the dodo program has produced highly accurate genomes of the extinct bird and its relatives, developing genetic tools to address bird conservation challenges.
In addition to de-extinction, Colossal's work has direct implications for conservation. The mammoth project is helping to preserve endangered elephant species, and the dodo program is helping to protect rare birds around the world. Through the Colossal Foundation, established in 2024, the company also supports conservation initiatives around the world, including genetic research and innovative solutions to protect endangered species.
Colossal has partnered with Re:wild to implement a 10-year conservation strategy that uses the company's genetic technologies to preserve the most threatened species. Other projects include the creation of a genetically engineered solution to protect the Australian marsupial from cane toad toxins.
According to forecasts, by 2050, more than 50% of animal species could disappear. About 27,000 species will go extinct every year in the world, which is significantly higher than the natural rate of 10-100 species per year. Over the past 50 years (1970-2020), the average size of monitored wildlife populations has decreased by 73%.