Elon Musk’s tunneling startup Boring Co. has raised $675 million in a funding round led by Vy Capital and Sequoia Capital. The round values the startup at $5.675 billion, the company said in a press release on Wednesday.
Boring Co. aims to “solve traffic” by building transportation networks in tunnels deep underground. The company already has a tunnel system in place at the Las Vegas convention center.
Other investors participating in the round include Valor Equity Partners, Founders Fund, 8VC, Craft Ventures and DFJ Growth.
Read more: BNN Bloomberg
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