Sightful Invest
  • Business
  • Investing
  • Politics
  • Stock
Top Posts
Musk officially steps down from DOGE after wrapping...
HHS slams ‘under-tested’ mRNA technology as Trump cuts...
State Department says it will ‘aggressively’ revoke visas...
SEN. JEANNE SHAHEEN: If Trump wants a Ukraine...
Trump’s drastic NSC cuts spark debate: Does fighting...
GOP rails against ‘blatantly false’ Dem claims about...
SCOOP: GOP push for new House committee to...
Elon Musk criticism of Trump tax bill frustrates...
What’s next for DOGE after Elon Musk’s departure?...
Hamas faces ‘legitimacy crisis’ as desperate Gazans flock...
  • Business
  • Investing
  • Politics
  • Stock

Sightful Invest

Investing

AI Mining Startup KoBold Metals Secures US$537 Million in Equity Funding Round

by admin January 3, 2025
January 3, 2025
AI Mining Startup KoBold Metals Secures US$537 Million in Equity Funding Round

KoBold Metals, a mining company that’s powered by artificial intelligence (AI) and backed by Bill Gates and Jeff Bezos, has raised US$537 million in equity funding to accelerate its search for critical minerals.

The firm is looking to position itself as a key player in efforts to diversify global supply chains dominated by China.

The latest investment round values the Silicon Valley-based company at US$2.96 billion.

It also brings new support to KoBold from Durable Capital Partners and two T. Rowe Price funds; they join existing backers like Andreessen Horowitz and Gates’ Breakthrough Energy Ventures.

The capital infusion will support KoBold’s efforts to locate and develop deposits of minerals like copper, lithium and nickel, which are vital for electric vehicles, renewable energy technology and data infrastructure. Its exploration projects focus on regions with high potential for minerals needed to meet increasing demand for clean energy resources.

Founded in 2018, KoBold operates by integrating machine-learning algorithms with geological data to enhance the accuracy and efficiency of mineral discovery. Its proprietary platforms, TerraShed and Machine Prospector, analyze historical and current geological data to identify and prioritize drilling targets.

This approach aims to reduce the time and costs associated with traditional mineral exploration.

“KoBold’s mission is to expand and diversify the global supply of critical resources essential for prosperity, energy technology, AI, and security,” KoBold CEO Kurt House told Fortune on Thursday (January 2).

The funding comes amid growing global competition for control over critical minerals supply chains.

Currently, China dominates the processing and supply of materials like lithium and copper, both essential for battery production and renewable energy storage. Over the past year, the US government has responded by introducing policies to counterbalance China’s market share, such as tariffs and incentives for domestic critical minerals production.

As mentioned, KoBold’s investors include prominent figures from technology and finance sectors.

Breakthrough Energy Ventures, founded by Gates, aims to support technologies that drive the transition to sustainable energy. Michael Bloomberg and Ray Dalio are also among the venture’s backers, along with Bezos.

New investor Durable Capital Partners joined the Series C funding round, with managing partner Henry Ellenbogen expressing confidence in KoBold’s technology-driven exploration model.

KoBold’s recent discoveries are seen propelling the potential of AI-driven exploration.

Last February, the company announced the discovery of a significant copper deposit at its Mingomba project in Zambia.

The deposit is considered one of the largest high-grade copper discoveries in recent years, signaling the effectiveness of KoBold’s machine-learning techniques in mineral exploration.

The new capital raised this week will be allocated in part toward further exploration and development at Mingomba, where KoBold plans to advance drilling and feasibility studies.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

previous post
A State-by-State Guide to Cannabis in Australia
next post
WESTERN COPPER AND GOLD ANNOUNCES COMPLETION OF LEADERSHIP TRANSITION

You may also like

Bitcoin Well Announces Nostr Integration; Including Bitcoin Purchases...

May 27, 2025

NorthStar Gaming Announces Revocation of Management Cease Trade...

May 21, 2025

Rights Entitlement Offers Underwritten to $1.6M

July 24, 2024

Mustang Energy Corp. Enters Option Agreement to Acquire...

November 13, 2024

Trump Calls for Lower Oil Prices, Tariffs and...

January 24, 2025

Group Eleven Resources: High-grade Zinc-Lead-Silver, Germanium Discovery in...

November 9, 2024

Bold Ventures Announces Closing of Third Tranche, Extension...

September 19, 2024

Brett Heath: Gold’s Setup is “Incredible,” US$3,000 in...

August 15, 2024

Opawica Explorations Intersects Visible Gold at its Bazooka...

April 16, 2025

CoTec Holdings: Innovating the Future of Resource Extraction

February 12, 2025

Recent Posts

  • Musk officially steps down from DOGE after wrapping work streamlining government
  • HHS slams ‘under-tested’ mRNA technology as Trump cuts Moderna’s vaccine funding
  • State Department says it will ‘aggressively’ revoke visas for Chinese students
  • SEN. JEANNE SHAHEEN: If Trump wants a Ukraine deal, he should reread his own book
  • Trump’s drastic NSC cuts spark debate: Does fighting the ‘Deep State’ put national security at risk?

    Become a VIP member by signing up for our newsletter. Enjoy exclusive content, early access to sales, and special offers just for you! As a VIP, you'll receive personalized updates, loyalty rewards, and invitations to private events. Elevate your experience and join our exclusive community today!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Categories

    • Business (747)
    • Investing (2,201)
    • Politics (2,719)
    • Stock (4)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sightfulinvest.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 Sightful Invest. All Rights Reserved.