The Boring Company, the tunneling company Musk founded with the aim of "defeating traffic," said it had raised $3 billion at a $23 billion valuation.

The Boring Company secured three billion dollars in a new funding round. This investment values the Elon Musk-founded startup at twenty-three billion dollars.

Temasek is among the investors backing tunnel start-up in its latest capital raise. Read more at straitstimes.com. Read more at straitstimes.com.