Awesome that Colossal is doing so well — and this is from before they announced their wooly mice accomplishment!
Colossal Biosciences, the company that’s famously on a mission to bring back the woolly mammoth and two other extinct species, has raised a $200 million Series C at a $10.2 billion valuation from TWG Global, the investment company of Guggenheim Partners co-founder Mark Walter and the billionaire Thomas Tull. The funding comes two years after the company closed its previous round at a reported valuation of $1.5 billion.
Why did investors pour so much capital at an eye-popping valuation 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 investor base has been very impressed with the speed at which we’ve created new technologies,” Ben Lamm, Colossal Biosciences’ co-founder and CEO, told TechCrunch.