Elon Musk’s The Boring Company raises USD 3 bn in Series D, valuation reaches USD 23 bn - The Tribune
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New Delhi [India], September 10 (ANI): Elon Musk-owned The Boring Company has raised USD 3 billion in a Series D funding round led by the United Arab Emirates and affiliated investment entities, taking the tunnelling company's valuation to USD 23 billion. The Boring Company announced Wednesday that the funding will accelerate its partnership with the UAE to deploy underground infrastructure across the country, including more than 150 km of tunnels. The investment builds on the company's existing collaboration with the UAE on the Dubai Loop project. Separately, The Boring Company has signed a construction contract with Dubai's Roads and Transport Authority for the pilot phase of Dubai Loop, covering 6.4 km of tunnel and four stations, with construction expected to begin in late 2026. Other investors in the Series D round include Human Capital, Vy Capital, Valor Equity Partners, Sequoia Capital, Andreessen Horowitz (A16Z), Temasek, Shamal Holding and Baron Capital, alongside existing and new investors. The company said the fresh capital will be used to increase hiring across engineering, operations and production, scale its Loop projects and accelerate research and development of its Prufrock tunnelling technology and future products. Over the past two years, The Boring Company has expanded from a single operating Loop system to a multi-city tunnelling programme spanning...
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