AI-Driven Mining Startup KoBold Metals Raises $537M in Series C Funding

The Bill Gates and Jeff Bezos-backed firm aims to expand critical mineral exploration and production while challenging China's supply chain dominance.

KoBold Metals secured $537 million in a Series C funding round, raising its valuation to $2.96 billion.
The company uses AI to locate critical minerals like copper, lithium, and nickel, essential for EVs and clean energy technologies.
KoBold discovered a major copper deposit in Zambia, with plans for a $2 billion mine projected to produce 300,000 tons annually by 2030.
The funding will accelerate global exploration, advance existing projects, and expand research and development efforts.
With support from high-profile investors, KoBold seeks to diversify critical mineral supplies and reduce reliance on China-dominated supply chains.