How Much Did KoBold Metals Raise? Funding & Key Investors

Date
March 31, 2025
KoBold Metals

Total amount raised

$944.5 Millions

Latest funding date

KoBold Metals

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KoBold Metals has successfully raised significant funding over multiple rounds, positioning itself as a leader in the mineral exploration industry. The company leverages a unique combination of Artificial Intelligence and Human Intelligence to drive its innovative approach.

Keep reading to delve into the details of KoBold Metals' funding journey and the investors who are backing this cutting-edge platform.

What Is KoBold Metals?

KoBold Metals, founded in 2018, is a pioneering company in the mineral exploration industry. Based in Berkeley, California, the company leverages advanced technologies like AI and comprehensive data aggregation to make exploration more efficient and scientifically driven.

The company was co-founded by Kurt House, Josh Goldman, and Matt Leisinger. KoBold Metals invests in projects globally, using proprietary AI tools to reduce uncertainty in exploration.

With a team of over 50 employees, KoBold Metals is committed to transforming the mineral exploration process through innovation and cutting-edge technology.

How Much Funding Has KoBold Metals Raised?

  1. Series A
    • Amount Raised: $20M
    • Date: March 2019
    • Lead Investors: Andreessen Horowitz
    • Valuation at Round: Not publicly disclosed
    • Motivation Behind the Round: To kickstart the company's innovative approach to mineral exploration using AI.
  2. Series B
    • Amount Raised: $192.5M
    • Date: February 2022
    • Lead Investors: Not publicly disclosed
    • Valuation at Round: Not publicly disclosed
    • Motivation Behind the Round: To expand their AI-driven exploration projects globally.
  3. Series B
    • Amount Raised: $195M
    • Date: June 2023
    • Lead Investors: T. Rowe Price
    • Valuation at Round: $1 billion post-money
    • Motivation Behind the Round: To further develop their mineral discovery technologies and scale operations.
  4. Series C
    • Amount Raised: $537M
    • Date: October 2024
    • Lead Investors: Durable Capital Partners, T. Rowe Price
    • Valuation at Round: $2 billion
    • Motivation Behind the Round: To develop a massive copper resource in Zambia and advance other exploration projects.

KoBold Metals has raised a total of $944.5M with a current valuation of $2 billion.

Key Investors

  • Andreessen Horowitz
    • Details: Andreessen Horowitz is a private venture capital firm based in Silicon Valley. It is known for investing in early-stage technology companies.
    • Investment Focus Areas: Technology startups, software, biotech, fintech.
    • Notable Investments: Facebook, Twitter, Airbnb.
  • T. Rowe Price
    • Details: T. Rowe Price is a global investment management firm headquartered in Baltimore, Maryland. The firm offers mutual funds, subadvisory services, and separate account management for individuals, institutions, and retirement plans.
    • Investment Focus Areas: Technology, healthcare, financial services.
    • Notable Investments: Tesla, Amazon, Google.
  • Durable Capital Partners
    • Details: Durable Capital Partners is an investment firm that focuses on long-term investments in public and private companies. It was founded by Henry Ellenbogen, a former T. Rowe Price portfolio manager.
    • Investment Focus Areas: Technology, consumer, healthcare.
    • Notable Investments: Not publicly disclosed.
  • Breakthrough Energy Ventures
    • Details: Breakthrough Energy Ventures is a fund backed by prominent business leaders to support innovations in clean energy. It was founded by Bill Gates and includes investors like Jeff Bezos and Jack Ma.
    • Investment Focus Areas: Clean energy technologies, sustainable agriculture, energy storage.
    • Notable Investments: QuantumScape, Commonwealth Fusion Systems, Pivot Bio.
  • Bill Gates
    • Details: Bill Gates is the co-founder of Microsoft and a prominent philanthropist. He is also a key figure in the global health and clean energy sectors through the Bill & Melinda Gates Foundation and Breakthrough Energy Ventures.
    • Investment Focus Areas: Technology, healthcare, clean energy.
    • Notable Investments: Microsoft, TerraPower, Breakthrough Energy Ventures.

What's Next for KoBold Metals?

KoBold Metals stands on the brink of a transformative era, driven by the development of a high-grade copper deposit in Zambia. This project alone has the potential to produce hundreds of thousands of metric tons annually, positioning the company as a key player in the global energy transition. With around 60 other exploration projects in the pipeline, the opportunities for growth are immense.

As KoBold Metals targets a $527 million fundraising round, the company is poised to secure a $2 billion valuation. This influx of capital will be crucial for advancing their ambitious projects. However, the path ahead is not without challenges. The estimated $2.3 billion cost to develop the Zambian resource and the inherent risks of mineral prospecting could pose significant hurdles. Yet, with the backing of high-profile investors and the strategic use of AI, KoBold Metals is well-equipped to navigate these challenges and continue its innovative journey.

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