The Boring Company raises $675 million to ramp up Loop Projects

Apr 22, 2022 | Mallika Rangaiah

The Boring Company raises $675 million to ramp up Loop Projects title banner

About The Company

 

The Boring Company is an Infrastructure and tunnel construction business that develops secure, fast-to-dig, and economical transportation, utility, and freight tunnels. Founded by Tesla and SpaceX CEO Elon Musk, the business aims to resolve big-city transportation issues and dig tunnels efficiently to offer an underground transportation network.

 

The company has been working with cities which include Los Angeles, Chicago and Las Vegas for building tunnels that can take autonomous and electric vehicles from one point to another point. 

 

The company had set up its commercial tunnel project in June, 2021 with the goal of transporting visitors through Las Vegas’s Convention Center by making use of human-driven Tesla vehicles.

 

 

The Raise

 

The Boring Company has raised $675 million in Series C round, which has brought its valuation up to $5.675 billion, as reported by The Economic Times in a funding round led by Vy Capital and Sequoia Capital, with participation from Valor Equity Partners, Founders Fund, 8VC, Craft Ventures, and DFJ Growth. 

 

The platform aims to use the funding to level up its hiring across engineering, operations and production sectors with the purpose of building and scaling Loop projects and also to speed up the research and development of the business’s next generation tunneling machine - Prufrock. 

 

Apart from The Boring Company’s projects in Vegas, the platform was also approved for a tunneling project in San Bernardino, California and is at the negotiating stage to set up tunnels in San Antonio as well as Fort Lauderdale and San Antonio while awaiting approvals from the City of Austin and Kyle for its project proposals.

Tags #Business Analytics
Advertisement

blakefarsi

Jul 24, 2023

Beware of all these crypto investment plans and if you must participate, please do proper research lest you fall victim. My big bro met a woman calling herself “Jiang Yingying” on social media and they communicated on WhatsApp, Telegram, and through text messaging. At some point, Jiang convinced him to open a crypto account, so he transferred $15,000 from his debit card, then transferred the cryptocurrency to a Chinese exchange at first calledrbhoodc.com, but later it changed its name to rbhoodz.com, then changed again to rbhoodd . xyz. He even got a loan for $100,000 which he also deposited intorbhoodc.com through his Crypto.com account. Jiang kept saying he was making money and should add more capital, so he got another $150,500 loan and wired it to Coinbase. At some point, he tried to withdraw some of the money, but Jiang told him he had to pay taxes. At this point, we figured we were being scammed so we had to look for another means. We got hold of the famous GearHeadEngineers who took our case and after 6 hours, he got back everything. If you know someone in such a situation, below are ways to reach them. Email: gearhead at engineer dot com Website: gearheadengineers dot org WhatsApp: +1 (705) 304-4474

danlieberman025de68df738643aa

Jul 25, 2023

I am Dan Lieberman. Thank you MYSTERIOUS HACKER Recovery Service for your life-saving services you rendered me last week. I can at least now reinvest my money in a true and safe investment. And to all those whose money has been frauded, give these agents a trial i can tell you all that they are reliable, below is their email address mysterioushack666@cyber-wizard.com

hawke2jamiee965af6da0a7425d

Aug 14, 2023

FOR BITCOIN RECOVERY CONSULT AN EXPERT/ CAPTAIN WEBGENESIS. Hello, my name is Jamie Hawke – Managing editor (Securityweek) I was involved in a bitcoin trading scam, I came across a company website that promised a big return on investment. I was completely sold. The website was excellent, and after much coaxing, I opted to invest 278,000 USD, which unfortunately ended up in the wrong hands. I was frustrated until I sought the counsel of a Crypto Expert CAPTAIN WEBGENESIS. I had no notion there were techniques for reclaiming stolen funds. I emailed the highly rated expert. I explained my case to Expert and provided all the required information and to my amazement, CAPTAIN WEBGENESIS refunded 90% of my BITCOIN to my wallet within a few working days, which I didn't think was possible. I was startled as well as relieved. With folks like CAPTAIN WEBGENESIS on your side, Crypto recovery is possible. Visit: www.captainwebgenesis.com Mail: Captainwebgenesis@hackermail.com

hawke2jamiee965af6da0a7425d

Aug 14, 2023

FOR BITCOIN RECOVERY CONSULT AN EXPERT/ CAPTAIN WEBGENESIS. Hello, my name is Jamie Hawke – Managing editor (Securityweek) I was involved in a bitcoin trading scam, I came across a company website that promised a big return on investment. I was completely sold. The website was excellent, and after much coaxing, I opted to invest 278,000 USD, which unfortunately ended up in the wrong hands. I was frustrated until I sought the counsel of a Crypto Expert CAPTAIN WEBGENESIS. I had no notion there were techniques for reclaiming stolen funds. I emailed the highly rated expert. I explained my case to Expert and provided all the required information and to my amazement, CAPTAIN WEBGENESIS refunded 90% of my BITCOIN to my wallet within a few working days, which I didn't think was possible. I was startled as well as relieved. With folks like CAPTAIN WEBGENESIS on your side, Crypto recovery is possible. Visit: www.captainwebgenesis.com Mail: Captainwebgenesis@hackermail.com

azimhpemji677061db482ed2144c7

Aug 24, 2023

I’m very excited to speak about Century Bitcoin Recovery, this cyber security company was able to assist me in recovering my stolen digital funds and cryptocurrency. I’m truly amazed by their excellent service and professional work. I never thought I could get back my funds until I approached them with my problems and provided all the necessary information. It took them 72 hours to recover my funds and I was amazed. Without any doubt, I highly recommend Elite Wizard Bitcoin Recovery for all your cryptocurrency recovery, digital funds recovery, hacking, and cybersecurity-related issues. Contact them via century@cyberservices.com Email: century@cyberservices.com

cheryledward217a378dfc018d54093

Aug 27, 2023

Greetings to everybody! The worst times of my life have been happening to me. Just over two weeks ago, I was contemplating whether I could go on living after losing everything I had ever saved in a cryptocurrency investment fraud. We all understand how it feels to lose any optimism, thereby I won't go into specifics.  I'm here to restore your faith and let you know that there is still hope for you to recover your lost dollars thanks to Pro Wizard Gilbert Recovery. When I most needed it, Pro Wizard Gilbert Recovery came to my aid and helped me recover my money. Please do not hesitate to contact Pro Wizard Gilbert Recovery if you need assistance by sending a request through: Contact: prowizardgilbertrecovery(At)engineer.com WhatsApp: +1 (361) 418‑1326

dannytunes4171838bda8eb2b4064

Aug 28, 2023

RECOVERY OF STOLEN BTC/CRYPTOCURRENCIES, BINARY, FOREX, AND RECOVERY OF LOST FUNDS FROM SCAMMER I had given up on trying to get my money back after losing a significant amount on a shady online investment. I chose to test out the services of a platform that helps to recover lost funds out of desperation. To my absolute surprise, they were able to recover my missing funds within a few weeks, despite my first skepticism. The team was efficient and professional, and they kept me informed at every stage. I wholeheartedly urge anyone who has lost money through dishonest ways to use this platform. Please feel free to get in touch with WIZARD LARRY if you need help or if you wish to retrieve lost money. Wizardlarry@mail (.) com WhatsApp him at +1) 205 319 6886. https://wizardlarry.wixsitecom/wizardlarry

dannytunes4171838bda8eb2b4064

Aug 28, 2023

RECOVERY OF STOLEN BTC/CRYPTOCURRENCIES, BINARY, FOREX, AND RECOVERY OF LOST FUNDS FROM SCAMMER I had given up on trying to get my money back after losing a significant amount on a shady online investment. I chose to test out the services of a platform that helps to recover lost funds out of desperation. To my absolute surprise, they were able to recover my missing funds within a few weeks, despite my first skepticism. The team was efficient and professional, and they kept me informed at every stage. I wholeheartedly urge anyone who has lost money through dishonest ways to use this platform. Please feel free to get in touch with WIZARD LARRY if you need help or if you wish to retrieve lost money. Wizardlarry@mail (.) com WhatsApp him at +1) 205 319 6886. https://wizardlarry.wixsitecom/wizardlarry

dannytunes4171838bda8eb2b4064

Aug 28, 2023

RECOVERY OF STOLEN BTC/CRYPTOCURRENCIES, BINARY, FOREX, AND RECOVERY OF LOST FUNDS FROM SCAMMER I had given up on trying to get my money back after losing a significant amount on a shady online investment. I chose to test out the services of a platform that helps to recover lost funds out of desperation. To my absolute surprise, they were able to recover my missing funds within a few weeks, despite my first skepticism. The team was efficient and professional, and they kept me informed at every stage. I wholeheartedly urge anyone who has lost money through dishonest ways to use this platform. Please feel free to get in touch with WIZARD LARRY if you need help or if you wish to retrieve lost money. Wizardlarry@mail (.) com WhatsApp him at +1) 205 319 6886. https://wizardlarry.wixsitecom/wizardlarry

patriciarolsenac3d4fe255d846c7

Sep 22, 2023

Be on Alert while trading on Bitcoin ,I had a very unpleasant experience, loosing $125,000 of my investment while trading,I lost my mind and didn't know where to start with recovering my funds or if it was even possible to recover it at all,I contacted my close friend who had introduced me to trading I explained to that her that i had lost everything I traded amounting to $125,000 immediately she asked me to contact leeultimatehacker@aol.com after I made contact with haste,they started the recovery process , assuring me that I will get back everything I lost.I was so happy because within no time they helped me recover all my $125,000 back ,To any investor who might have lost funds while trading quickly contact leeultimatehacker@aol.com and start the journey to recovering all you lost within no time.They also gave me tips on how to avoid losing funds while trading on Bitcoin and also how to keep my account safe from Hackers.