KoBold Metals Raises $192.5 Million to Use AI to Find Battery Minerals

ADELAIDE, Australia—KoBold Metals, a startup backed by

Bill Gates’s

Breakthrough Energy Ventures that aims to use artificial intelligence to find metals needed for the electric-vehicle boom, raised $192.5 million in its latest financing round, according to two people familiar with the matter.

Investors in the Series B funding round for the Berkeley, Calif., company included

Sam Altman’s

Apollo Projects and

Mary Meeker’s

Bond Capital as well as mining giant

BHP Group Ltd.

BHP -0.38%

and the Canada Pension Plan Investment Board, Canada’s largest pension fund, one of the people said.

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