# KoBold Metals Company

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/kobold-metals-company

- Industry: Mining
- Headquarters: Berkeley, US
- Website: www.koboldmetals.com
- Total disclosed funding: $887M
- Latest round: Series C (Sep 20, 2024)
- Investors on record: 17

## About

KoBold Metals Company, founded in 2018 in California, US, focuses on advanced mineral exploration. The company's co-founders include Jeff Jurinak, Josh Goldman, and Kurt House (CEO). In September 2024, KoBold Metals Company raised USD 491.46 million in series C funding co-led by Durable Capital Partners, T. Rowe Price, including Andreessen Horowitz, Breakthrough Energy Ventures, Bond, Mitsubishi Corporation. StepStone, and WCM Investment Management. The series C funding values KoBold Metals Company at USD 2.90 billion post-money.

KoBold Metals specializes in advanced mineral exploration, leveraging proprietary artificial intelligence and geoscience methodologies to identify and develop critical battery metal resources. The company’s core offerings include a comprehensive data aggregation platform known as TerraShed, which organizes a vast array of structured and unstructured geophysical data. This system is complemented by Machine Prospector®, an evolving suite of AI-driven tools designed to analyze and evaluate mineral prospects efficiently. KoBold's approach targets the extraction of mineral deposits that are increasingly located deep underground, utilizing sophisticated models to reduce uncertainty and enhance decision-making. Their services cater to a global clientele, including mining companies and exploration partners across five continents, specifically focusing on regions with rich mineral potential for future sustainable technology, including North America, South America, Europe, Africa, and Asia.

KoBold Metals generates revenue primarily through partnerships and collaborative exploration agreements with various mining and resource extraction companies. These transactions typically involve long-term commitments where partners contribute funding, resources, or data in exchange for access to KoBold's innovative technologies and exploration insights.

The organization plans to use the September 2025 funding to support research and development, finance new exploration, and assist in bringing high-potential projects to production.

## Funding rounds

- Series C, Sep 20, 2024, $491M — StepStone, Andreessen Horowitz, Breakthrough Energy Ventures, Mitsubishi, Bond, Durable Capital Partners, WCM Investment Management, T. Rowe Price (Hong Kong)
- Series B, Mar 21, 2023, $195M — T Rowe Price, Andreessen Horowitz, Breakthrough Energy Ventures, Mitsubishi, Bond, Standard Investments, BHP Ventures, Earthshot Ventures, July Fund, Equinor Ventures
- Series B, Jan 10, 2022, $201M — T Rowe Price, CPP Investment Board, Andreessen Horowitz, Standard Investments, Breakthrough Energy Ventures, Mitsubishi, Cleo Capital, Bond, BHP Ventures, Apollo Projects, Equinor Ventures

## Investors

- T Rowe Price (https://capitalatlas.ai/funds/t-rowe-price) — Series B
- CPP Investment Board — Series B
- Andreessen Horowitz (https://capitalatlas.ai/funds/andreessen-horowitz) — Series B, Series C
- Standard Investments (https://capitalatlas.ai/funds/standard-investments) — Series B
- Breakthrough Energy Ventures (https://capitalatlas.ai/funds/breakthrough-energy-ventures) — Series B, Series C
- Mitsubishi — Series B, Series C
- Cleo Capital (https://capitalatlas.ai/funds/cleo-capital) — Series B
- Bond (https://capitalatlas.ai/funds/bond) — Series B, Series C
- BHP Ventures (https://capitalatlas.ai/funds/bhp-ventures) — Series B
- Apollo Projects (https://capitalatlas.ai/funds/apollo-projects) — Series B
- Equinor Ventures — Series B
- Earthshot Ventures (https://capitalatlas.ai/funds/earthshot-ventures) — Series B
- July Fund (https://capitalatlas.ai/funds/july-fund) — Series B
- StepStone (https://capitalatlas.ai/funds/stepstone) — Series C
- Durable Capital Partners — Series C
- WCM Investment Management (https://capitalatlas.ai/funds/wcm-investment-management) — Series C
- T. Rowe Price (Hong Kong) — Series C