KoBold Metals Raises $195 Million at $1.15 Billion Valuation

KoBold Metals is a mining startup that is pioneering a new approach to mineral exploration and discovery. The company is combining cutting-edge data science and machine learning techniques with traditional geology to develop a more efficient and effective method of mineral exploration. By analyzing large amounts of data from multiple sources, including satellite imagery, geophysical data, and historical drilling records, the company is able to identify areas with high potential for mineral deposits.

Mining startup KoBold Metals has raised a $195 million round at a $1.15 billion valuation, led by T. Rowe Price. Existing investors Andreessen Horowitz, Breakthrough Energy Ventures, and Bond took part in the new round. The round also included Standard Investments, Equinor Ventures, BHP Ventures, Mitsubishi Corporation, Earthshot Ventures, and the July Fund. Part of the fresh funding will be used to develop recently acquired copper reserves in Zambia.

KoBold Metals, Berkeley, California, United States, was founded in 2018 by Jeff Jurinak, Josh Goldman, and Kurt Zenz House. The company was founded with the aim of developing new techniques to help identify and extract critical minerals that are essential to the modern economy.

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