Boring, Elon Musk's tunnel company, raised $3 billion in Series D funding led by the United Arab Emirates and affiliated entities, valuing it at $23 billion, the company said Wednesday.
The funding will support Boring's plan to deploy more than 150 kilometers of underground infrastructure in the UAE, alongside the Dubai Loop project, the company said.
The round also attracted Human Capital, Vy Capital, Valor Equity Partners, Sequoia Capital, A16Z, Temasek, Shamal Holding and Baron Capital, along with other existing and new investors, it added.
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