Durable Capital Partners
Assembly Line
Mining startup KoBold Metals valued at $2.96bn after closing $537m Series C
To ring in the new year, KoBold announced the close of its $537m Series C in an interview with the Financial Times. Berkeley-based KoBold Metals said its series C funding round valued the company at $2.96bn, and was co-led by existing investor T Rowe Price, which has been joined by Durable Capital Partners.
The company — which uses OpenAI’s generative AI technology as well as more traditional AI — planned to “add at least three jurisdictions” including Finland and Botswana, House said, adding that he was excited about the prospects for lithium mining in Canada.
KoBold plans to hire “aggressively” and add data scientists who have a more traditional technology background to its teams, as well geoscientists to survey possible deposits and collect data, said House. The company was likely to go public within three to five years, he added.