KoBold Metals, an US-based mining startup backed by billionaires Bill Gates and Jeff Bezos, has raised $537m in a Series C funding round.
The funding will accelerate the exploration of minerals such as copper, lithium, and nickel. The company says that it plans to use the proceeds for new explorations and reinforcing its R&D efforts.
KoBold’s Mingomba copper mine in Zambia is of particular interest; the company announced a huge copper deposit at the site last year.
KoBold is making exploration a repeatable science through comprehensive data aggregation, geoscience excellence, and artificial intelligence. According to the company, it is deploying the world’s largest R&D budget dedicated to the search for scarce battery metals.