Elon Musk’s tunneling play, The Boring Firm, has raised a $3 billion Collection D funding spherical that pushes its valuation to $23 billion.
The spherical was led by the United Arab Emirates. The Boring Firm mentioned Thursday that it now plans to dig greater than 150 kilometers of tunnels within the Center Jap nation. Andreessen Horowitz, Sequoia Capital, Human Capital, Vy Capital, and Valor Fairness companions additionally participated.
The Wall Road Journal reported in July that The Boring Firm was trying to elevate as much as $4 billion.
The Boring Firm has finished most of its digging to this point in Las Vegas, Nevada, the place it operates a handful of tunnels that join lodge casinos and the conference heart. It just lately began work on a project in Nashville, Tennessee that may contain a 10-mile “loop” underground.
The corporate has acknowledged that its aim is to “resolve visitors” by transferring car journey into an underground, three-dimensional community of tunnels.