Titanium Media App reported on April 21 that Musk’s tunnel drilling company Boring announced on Wednesday local time that it had completed a new round of financing of $675 million, led by Vy Capital and Sequoia Capital. The company said the round valued it at $5.675 billion. Other investors participating in the round include Valor Equity Partners, Founders Fund, 8VC, Craft Ventures and DFJ Growth. Boring's goal is to solve the problem of traffic congestion by creating a transport network in tunnels deep underground. The company has already built a tunnel system under the Las Vegas Convention Center.
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Related events
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