KoBold Metals' AI-Driven Exploration Secures $537M Series C Funding

KoBold Metals

KoBold Metals, a U.S.-based mining exploration startup, has raised $537 million in a Series C funding round, boosting its valuation to $2.96 billion. The funding, led by Durable Capital Partners and T Rowe Price, will support AI-driven exploration for cobalt, nickel, lithium, and copper—critical minerals for the tech and energy sectors.

Tech-Backed Expansion in Critical Minerals

• Key investors include Bill Gates and Jeff Bezos, highlighting strong support for sustainable mining.
• Mingomba copper project in Zambia is expected to become Zambia’s largest copper mine and one of the highest-grade globally, with production set for the early 2030s.

KoBold’s AI-driven approach positions it as a leader in next-generation mineral exploration, reinforcing the role of technology in securing essential resources.