KoBold Metals, a start-up backed by a coalition of billionaires including Bill Gates and Jeff Bezos, has raised $192.5 million in its latest financing round, which will allow it to speed up efforts to find new deposits of critical metals needed for batteries and clean energy.
Investors in the Series B funding round for the company included Sam Altman’s Apollo Projects and Mary Meeker’s Bond Capital as well as BHP (ASX: BHP) and the Canada Pension Plan Investment Board, Canada’s largest pension fund, two people familiar with the matter told The Wall Street Journal.
Previous backers include big names such as Venture capital firm Andreessen Horowitz and Breakthrough Energy Ventures.
The Silicon Valley-based firm, founded in November 2018, plans to use artificial intelligence to create a “Google Maps” of the Earth’s crust, with a special focus on finding cobalt deposits. It collects and analyzes multiple streams of data — from old drilling results to satellite imagery — to better understand where new deposits might be found.
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