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A team of scientists and entrepreneurs announced on Monday that they have started a new company to genetically resurrect the woolly mammoth.

The company, named Colossal, aims to place thousands of these magnificent beasts back on the Siberian tundra, thousands of years after they went extinct.

“This is a major milestone for us,” said George Church, a biologist at Harvard Medical School, who for eight years has been leading a small team of moonlighting researchers developing the tools for reviving mammoths. “It’s going to make all the difference in the world.”

The company, which has received $15 million in initial funding, will support research in Dr. Church’s lab and carry out experiments in labs of their own in Boston and Dallas.

A former researcher in Dr. Church’s lab, Eriona Hysolli, will oversee the new company’s efforts to edit elephant DNA, adding genes for mammoth traits like dense hair and thick fat for withstanding cold. The researchers hope to produce embryos of these mammoth-like elephants in a few years, and ultimately produce entire populations of the animals.

Other researchers are...