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The funding round includes Sequoia Capital, Andreessen Horowitz, and Temasek, and will support more than 150 km of underground infrastructure across the UAE
Brandon Bell / Getty Images
Elon Musk's tunneling venture secured $3 billion in Series D financing, with the United Arab Emirates and related investment entities taking the lead, in a round that values The Boring Company at $23 billion.
The round drew participation from Sequoia Capital, Andreessen Horowitz, Temasek, Valor Equity Partners, Vy Capital, Human Capital, Shamal Holding, and Baron Capital, the company said. The $23 billion valuation marks a roughly four-fold increase from the company's 2022 valuation of $5.7 billion, which followed a $675 million funding round, according to Reuters.
