Colossal Biosciences in talks to raise at $20B–$30B valuation as de-extinction startup gains revenue

De-extinction startup Colossal Biosciences is in talks to raise new capital at a valuation between $20 billion and $30 billion, according to Axios. The company, founded five years ago, is moving toward a second major funding round as it begins generating revenue across multiple business lines.

The specific amount being raised and lead investor have not been disclosed. Colossal did not respond to requests for comment on the fundraising.

The company's valuation has more than doubled since its previous $10.2 billion round last year. That jump reflects investor appetite for deep-tech ventures focused on conservation and biotechnology, sectors that have attracted significant capital in recent months.

Colossal has built three distinct revenue streams. The company has pitched its conservation technology to the U.S. government and the United Arab Emirates, which invested $60 million in the company. Beyond these government contracts, Colossal has spun out three separate ventures: Breaking (plastic degradation), Form Bio (computational biology platform that raised $30 million), and Astromech (an AI-driven predictive modeling company valued at $2 billion as of March).

The startup operates a 55,000-square-foot headquarters in Dallas and continues to expand its target species for de-extinction efforts. In late April, it added the bluebuck antelope as its sixth target species. Last month, Colossal's nonprofit conservation arm announced a partnership with the University of Tasmania to protect Tasmanian devils from a contagious facial cancer.

Colossal co-founder and CEO Ben Lamm has outlined additional revenue opportunities. The company plans to spin off its artificial animal womb technology, which Lamm told Rolling Stone could have applications for human fertility treatment and is expected to be ready next year. If the company successfully reintroduces extinct animals like the woolly mammoth and dodo to their native habitats, it could generate revenue through biodiversity credits—a mechanism similar to carbon credits.