Colossal Biosciences, a company focused on bringing extinct species back to life, is reportedly in discussions to raise new capital at a valuation between $20 billion and $30 billion. That would be double or triple its previous valuation, according to a report. The startup, known for its ambitious goal of reviving the woolly mammoth and other extinct animals, uses genetic engineering and cutting-edge biotechnology. Founded in 2021, Colossal has raised hundreds of millions of dollars from investors including venture capital firms and tech billionaires. The potential new funding round highlights growing interest in de-extinction and conservation technology. However, some scientists question the feasibility and ethics of such projects. Colossal has not publicly commented on the report. The company's work involves editing the genomes of living relatives, such as the Asian elephant, to create animals that resemble extinct species. These creatures would then be introduced into natural habitats, aiming to restore lost ecosystems. The new valuation, if achieved, would place Colossal among the most valuable private biotech companies. The talks are reportedly ongoing and may not result in a deal.