Dallas-Based Colossal Biosciences Becomes First Company In Texas Valued At More Than B

Dallas-Based Colossal Biosciences Becomes First Company In Texas Valued At More Than $10B

January 19, 2025 Catherine Williams - Chief Editor Business

Dallas-based Colossal Biosciences has made history by becoming the first company in Texas to achieve a valuation exceeding $10 billion. The groundbreaking milestone came after the completion of its Series C funding round, which valued the company at $10.2 billion. This achievement earns Colossal the rare distinction of being a “decacorn,” a term used for startups valued at 10 times the coveted “unicorn” status.

Colossal Biosciences isn’t your average tech company. Its mission is as bold as it is revolutionary: to bring extinct species back to life. From the woolly mammoth to the dodo and the northern white rhino, Colossal is harnessing the power of genetics to rewrite the story of life on Earth. The company describes its work as a fusion of science and discovery, aiming to “jumpstart nature’s ancestral heartbeat” and restore lost ecosystems.

The $10 billion-plus valuation follows a $200 million infusion from its latest funding round, led by TWG Global. Since its founding, Colossal has raised an impressive $435 million. This financial backing fuels the company’s ambitious goals, which extend beyond de-extinction. Colossal’s advancements in genetics are also driving innovations in healthcare, agriculture, and environmental restoration.

“Colossal is a revolutionary genetics company making science fiction into science fact,” said George Church, Ph.D., co-founder and renowned professor of genetics at Harvard Medical School. Church’s words underscore the company’s vision to transform the impossible into tangible breakthroughs.

CEO Ben Lamm emphasizes that Colossal’s mission goes beyond reviving extinct species. By addressing biodiversity loss, the company hopes to combat the alarming rate of global extinction. Current estimates suggest that over 50% of the world’s animal species could disappear by 2050. Today, approximately 27,000 species vanish annually, far exceeding the natural extinction rate of just 10 to 100 species per year.

“This funding will grow our team, support new technology development, expand our de-extinction species list, and allow us to carry forth our mission to make extinction a thing of the past,” Lamm said.

As Colossal continues to push the boundaries of genetic science, its landmark valuation cements its place as a pioneer in both innovation and conservation. The company’s work serves as a testament to the power of human ingenuity and the potential to reshape the future of our planet.