Exploration projects<\/a>.<\/strong><\/p>\nThe mineral discovery startup has raised $491 million and is targeting a $527 million funding round, according to an SEC filing. A previous $195 million funding round valued the company at $1 billion post-funding, according to PitchBook. The startup is reportedly looking to reach a $2 billion valuation in the current funding round.<\/p>\n
The company did not immediately respond to questions.<\/p>\n
KoBold utilizes artificial intelligence to sift through massive amounts of data to find deposits that can drive the energy transition. In addition to copper, the company also looks for lithium, nickel and cobalt.<\/strong><\/p>\nInitially, the company focused on discovery. The process of finding minerals has historically been risky. The rule of thumb is that only about three out of every 1,000 attempts to find a mineral deposit are successful, and KoBold is betting on artificial intelligence to be able to parse the data and spot trends to improve the success rate.<\/p>\n
With Zambia's huge copper reserves, Kobold seems to be making good on its early promises. The company now has about 60 other exploration projects underway, and in a strategic shift, KoBold says it intends to develop Zambia's resources on its own, a project that will reportedly cost about $2.3 billion.<\/p>\n
Former investors in KoBold include Bill Gates, Jeff Bezos, Jack Ma, a16z and Breakthrough Energy Ventures.<\/strong><\/p>","protected":false},"excerpt":{"rendered":"Source: KoBold Metals earlier this year, KoBold Metals discovered one of the most potentially high-grade copper deposits in history, with hundreds of thousands of tons expected to be produced annually, according to the CEO of the company. Now, just eight months later, KoBold is close to raising more than $500 million. This funding will help the company to develop huge copper resources while advancing dozens of other exploration projects. This mineral discovery company has raised $491 million, with a target of $527 million in financing rounds, according to United States Securities and Exchange Commission documents. According to PitchBook, the previous $195 million financing round brought the company ' s post-financing valuation to $1 billion. This start-up company<\/p>","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[146],"tags":[4549,4550],"collection":[],"class_list":["post-21100","post","type-post","status-publish","format-standard","hentry","category-news","tag-kobold-metals","tag-4550"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.1ai.net\/en\/wp-json\/wp\/v2\/posts\/21100","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.1ai.net\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.1ai.net\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.1ai.net\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.1ai.net\/en\/wp-json\/wp\/v2\/comments?post=21100"}],"version-history":[{"count":0,"href":"https:\/\/www.1ai.net\/en\/wp-json\/wp\/v2\/posts\/21100\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.1ai.net\/en\/wp-json\/wp\/v2\/media?parent=21100"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.1ai.net\/en\/wp-json\/wp\/v2\/categories?post=21100"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.1ai.net\/en\/wp-json\/wp\/v2\/tags?post=21100"},{"taxonomy":"collection","embeddable":true,"href":"https:\/\/www.1ai.net\/en\/wp-json\/wp\/v2\/collection?post=21100"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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