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Colossal Biosciences raises $200M at $10.2B valuation to bring back woolly mammoths
Colossal Biosciences wants to bring back the woolly mammoth and has raised $200 million at a $10.2 billion valuation to do it.
Why did investors pour so much capital at an eye-popping valuation jump for a company that has yet to generate any revenue and whose flagship projects, resurrecting an extinct mammoth and Tasmanian tiger, are not expected to be completed until 2028? The company claims it has made significant breakthroughs on all three of its main projects, which, in addition to the mammoth and the Tasmanian tiger (also known as the thylacine), include the dodo bird, and is on schedule or even ahead of it to resurrect these animals. Colossal’s approach to bringing back extinct animals involves mapping the entire genome of the species and then comparing it to their closest living relative, which in the case of the mammoth is the Asian elephant.
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