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KoBold Metals, which uses AI to help find critical minerals for the energy transition, raises $491M
Kobold Metals has raised $491 million of a targeted $527 million round, which could value the company at over $2 billion.
Kobold uses artificial intelligence to sift through enormous amounts of data in a quest to find mineral deposits that can help drive the energy transition. The company has about 60 other exploration projects underway, and in a strategic shift, Kobold has said it intends to develop the Zambia resource itself, an undertaking that reportedly will cost around $2.3 billion. Kobold’s previous investors include Bill Gates, Jeff Bezos, Jack Ma, Andreessen Horowitz, and Breakthrough Energy Ventures.
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