Friday, July 26, 2019

Report: Boring Co. Raises $120M

Los Angeles-based Boring Co., the underground, high tech transportation company run by Elon Musk, has raised $120M in a funding, which reportedly came from 8VC, Vy Capital, and Future Ventures. According to the report from Bloomberg, the new funding values Boring. Co at $920M. The funding is the first outside investment for the company. Boring Co. is in the midst of early efforts to create underground transportation tunnels, which ultimately would connect major cities with extremely high speed pods. The company has now raised $233M in total over the last year. The company's biggest project so far is a system to move people across the Las Vegas Convention Center.

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