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About KoBold Metals
Industries
Data & Analytics
Energy
AI & Machine Learning
Company Size
201-500
Company Stage
Series C
Total Funding
$934.5M
Headquarters
Berkeley, California
Founded
2018
Overview
KoBold Metals focuses on discovering new deposits of essential minerals like lithium, cobalt, copper, and nickel, which are crucial for clean energy technologies. The company employs artificial intelligence to enhance the mineral exploration process, making it more efficient and predictable. Their proprietary AI tool utilizes a concept known as Efficacy of Information (EOI) to guide data collection during exploration, helping to reduce uncertainty. KoBold invests over $60 million annually in more than 60 projects across three continents, leading extensive research and development efforts in the field. By aggregating comprehensive data about the Earth's crust and applying a multidisciplinary approach, KoBold aims to transform mineral exploration into a repeatable science. The company generates revenue by discovering and selling mineral deposits to clean energy companies, positioning itself as a leader in the market by locating these resources more effectively than traditional methods.
Simplify's Take
What believers are saying
- KoBold raised $537M, valuing the company at $2.96 billion.
- They discovered a $2 billion copper deposit in Zambia using AI.
- KoBold's AI enhances mining efficiency by 10 times and reduces costs by 75%.
What critics are saying
- Geopolitical tensions in Congo may affect their lithium project.
- Environmental regulations in Finland could challenge their partnership with Aurion.
- Debate over AI's role in discoveries may affect investor confidence.
What makes KoBold Metals unique
- KoBold uses AI to make mineral exploration a repeatable science.
- Their proprietary Efficacy of Information tool optimizes data collection in exploration.
- KoBold aggregates comprehensive data on Earth's crust for precise mineral discovery.
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Funding
Total Funding
$934.5M
Above
Industry Average
Funded Over
4 Rounds
Andreessen HorowitzIndustry standards
Benefits
Remote Work Options
Flexible Work Hours
Growth & Insights and Company News
6 month growth
↑ 0%1 year growth
↑ 1%2 year growth
↑ 8%KoBold Metals, backed by Gates and Bezos, has offered to develop a major lithium deposit in Congo.
me-metals: Aurion Resources (TSXV: AU) is teaming up with KoBold Metals, the mineral exploration company backed by Jeff Bezos and Bill Gates, to unlock the critical minerals potential of its Risti project in Finland.
KoBold Metals, an AI-driven mining company, raised $5.37 billion in its latest Series C funding round, reaching a valuation of $2.96 billion. Backed by notable investors like Bill Gates, Jeff Bezos, and Jack Ma, KoBold discovered a world-class copper deposit in Zambia, potentially generating $1 billion annually for decades. Utilizing AI, KoBold enhances mining efficiency by 10 times and reduces costs by 75%. Despite its success, the role of AI in these discoveries remains debated.
KoBold Metals, an AI-driven mining company, announced it raised $537 million in a Series C funding round. Led by existing investors T. Rowe Price and Durable Capital Partners, the round also saw participation from Bill Gates' Breakthrough Energy Ventures, Andreessen Horowitz, and new investor StepStone. CEO Kurt House stated that 40% of the funds will convert existing projects into mining sites, with a priority on a $2 billion copper mine in Zambia. The company may go public in 3-5 years.
AI-powered mineral exploration company KoBold Metals raises $527M - SiliconANGLE
KoBold Metals is Hiring for 11 Jobs on Simplify!
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About KoBold Metals
Industries
Data & Analytics
Energy
AI & Machine Learning
Company Size
201-500
Company Stage
Series C
Total Funding
$934.5M
Headquarters
Berkeley, California
Founded
2018
KoBold Metals is Hiring for 11 Jobs on Simplify!
Find jobs on Simplify and start your career today