# KoBold Metals funding: rounds and investors > KoBold Metals has raised $1.5B across 4 rounds since 2024. Investors include Andreessen Horowitz, Bond and Breakthrough Energy. Every round with its source. Source: https://millionrounds.com/company/kobold-metals (Millionrounds; every figure on the page links to its filing or article) United States · [Venture startup](https://millionrounds.com/companies) # Who invested in *KoBold Metals* 4 rounds we have observed, with the 14 investors named in them. Every figure came from a named source, and where the company reported a raise to the SEC itself, that is shown beside it. AI Big Data & Analytics Climate Tech Oil & Gas Raised 12 months ago Valuation: $1.0B, Mar 2026 Funding summary Updated 26 Oct 2026 **$1.5B** raised across 4 rounds since 2024, from 5 sources **$491M** Round **$537M** Series C **$280M** Series C **$163M** Venture - **Latest round:** Series C, $280M Nov 2025 - **Biggest round:** $537M Series C · Jan 2025 - **Investors:** 14 (2 led) See who backed them ## The funding story Each circle is a round, placed by date and sized by amount. The line above is the running total. 2025 **$491M** Round **$537M** Series C **$280M** Series C **$163M** Venture - **First round:** Round, $491M - **Biggest round:** $537M - **Usual gap between rounds:** 10 months ## The rounds - **Nov 2025** Series C **$280M** *1 new* *3 returning* [Andreessen Horowitz](https://millionrounds.com/fund/andreessen-horowitz) [Bond](https://millionrounds.com/fund/bond) [Breakthrough Energy](https://millionrounds.com/fund/breakthrough-energy) [StepStone Group](https://millionrounds.com/fund/stepstone-group) Source recorded SEC filing: $163M sold, first sale Oct 2025 - **Nov 2025** Venture **$163M** *1 new* *3 returning* [Andreessen Horowitz](https://millionrounds.com/fund/andreessen-horowitz) [Bond](https://millionrounds.com/fund/bond) [StepStone Group](https://millionrounds.com/fund/stepstone-group) [Mitsubishi Corporation](https://millionrounds.com/fund/mitsubishi-corporation) Source recorded SEC filing: $163M sold, first sale Oct 2025 - **Jan 2025** Series C **$537M** *12 new* [T. Rowe Price](https://millionrounds.com/fund/t-rowe-price) Lead [Durable Capital Partners Lp](https://millionrounds.com/fund/durable-capital-partners) Lead [Andreessen Horowitz](https://millionrounds.com/fund/andreessen-horowitz) [Bond](https://millionrounds.com/fund/bond) [Breakthrough Energy](https://millionrounds.com/fund/breakthrough-energy) [Equinor Ventures](https://millionrounds.com/fund/equinor-ventures) [WCM Investment Management](https://millionrounds.com/fund/wcm-investment-management) [Standard Investments](https://millionrounds.com/fund/standard-investments) [StepStone](https://millionrounds.com/fund/stepstone) [Earthshot Ventures](https://millionrounds.com/fund/earthshot-ventures) [July Fund](https://millionrounds.com/fund/july-fund) [Mitsubishi](https://millionrounds.com/fund/mitsubishi) Reported by TechCrunch SEC filing: $491M sold, first sale Sept 2024 - **Oct 2024** Round **$491M** No investor was named in the report. Reported by TechCrunch and 1 other SEC filing: $491M sold, first sale Sept 2024 ## Founders and team From KoBold Metals's own website: 24 on the team. - **Mfikeyi Makayi** Chief Executive Officer of KoBold Metals Africa - **Damian Rogers** Vice President of Projects - **George Gilchrist** Vice President of Geoscience - **Heather Friesen** Vice President of Field Operations - **Lucas Hughes** Vice President of Finance - **Marc Greenberg** Senior Vice President of Finance & People - **Seb Wagner** Vice President of Project Financing - **John Qian** Chief Investment Officer - **Michael Strevens** Chief Philosopher - **Dave Youmans** Head of Hardware - **Kate Fugate** Head of Operations Data - **Patrick Goodwill** Head of Subsurface Imaging - **Tralaena McCall** Head of Procurement - **Audrey Lawrence** Director of Engineering - **Danny Charest** Director of Security - **Fabiana Peek** Director of Community Engagement - **Jennifer Fendrick** Director of Government Affairs - **John Thompson** Board Director And 6 more on the team. Advisers *Murray Hitzman* ## Who was in which round The busiest backers across the latest rounds. A filled square is a round they joined; a dark one, a round they led. **Round** 2024 **Series C** 2025 **Series C** 2025 **Venture** 2025 [Andreessen Horowitz](https://millionrounds.com/fund/andreessen-horowitz) [Bond](https://millionrounds.com/fund/bond) [Breakthrough Energy](https://millionrounds.com/fund/breakthrough-energy) [StepStone Group](https://millionrounds.com/fund/stepstone-group) [T. Rowe Price](https://millionrounds.com/fund/t-rowe-price) L [Durable Capital Partners Lp](https://millionrounds.com/fund/durable-capital-partners) L [Mitsubishi Corporation](https://millionrounds.com/fund/mitsubishi-corporation) [Equinor Ventures](https://millionrounds.com/fund/equinor-ventures) [WCM Investment Management](https://millionrounds.com/fund/wcm-investment-management) [Standard Investments](https://millionrounds.com/fund/standard-investments) ## Everyone who backed them [Andreessen Horowitz](https://millionrounds.com/fund/andreessen-horowitz) VC firm **3** rounds [Bond](https://millionrounds.com/fund/bond) Growth equity **3** rounds [Breakthrough Energy](https://millionrounds.com/fund/breakthrough-energy) VC firm **2** rounds [StepStone Group](https://millionrounds.com/fund/stepstone-group) Fund of funds **2** rounds [T. Rowe Price](https://millionrounds.com/fund/t-rowe-price) Private equity **1** round, led 1 [Durable Capital Partners Lp](https://millionrounds.com/fund/durable-capital-partners) Private equity **1** round, led 1 [Mitsubishi Corporation](https://millionrounds.com/fund/mitsubishi-corporation) VC firm **1** round [Equinor Ventures](https://millionrounds.com/fund/equinor-ventures) Corporate VC **1** round [WCM Investment Management](https://millionrounds.com/fund/wcm-investment-management) Growth equity **1** round [Standard Investments](https://millionrounds.com/fund/standard-investments) Private equity **1** round [StepStone](https://millionrounds.com/fund/stepstone) Private equity **1** round [Earthshot Ventures](https://millionrounds.com/fund/earthshot-ventures) VC firm **1** round [July Fund](https://millionrounds.com/fund/july-fund) VC firm **1** round [Mitsubishi](https://millionrounds.com/fund/mitsubishi) Investment firm **1** round Missing a round, or an investor who was in one? [Tell us](https://millionrounds.com/corrections?slug=kobold-metals). ## Also claim to have backed them These 3 firms list KoBold Metals as a portfolio company on their own websites, but no report of a round names them. They are the firms' own claims, kept apart from the rounds above. [WovenEarth Ventures](https://millionrounds.com/fund/wovenearth-ventures) Fund of funds Per its own site [Baruch Future Ventures](https://millionrounds.com/fund/baruch-future-ventures) VC firm Per its own site [CF Group](https://millionrounds.com/fund/cf-group) VC firm Per its own site ## Quick answers about KoBold Metals ### Who invested in KoBold Metals? KoBold Metals's investors include Andreessen Horowitz, Bond, Breakthrough Energy, StepStone Group and T. Rowe Price, and 9 more on record. ### How much has KoBold Metals raised? KoBold Metals has raised $1.5B across 4 rounds since 2024. ### When did KoBold Metals last raise? KoBold Metals's most recent round was a Venture of $163M in Nov 2025. ### What was KoBold Metals's biggest round? KoBold Metals's largest round on record is $537M (Series C), in Jan 2025, led by T. Rowe Price. ### Who backed KoBold Metals first? KoBold Metals's first round on record, in Jan 2025, was backed by T. Rowe Price, Durable Capital Partners Lp and Andreessen Horowitz and 9 others. ### What stage is KoBold Metals at? KoBold Metals's latest named round is a Venture, in Nov 2025. ### Where is KoBold Metals based? KoBold Metals is based in the United States. ### Who led KoBold Metals's rounds? T. Rowe Price led the Series C in 2025. ## Companies like KoBold Metals In the same sector, and raised in the last eighteen months. 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