The Boring Company raised $3 billion in a Series D round, pushing its valuation to $23 billion, roughly four times its $5.675 billion valuation from its previous round in April 2022. The United Arab Emirates and affiliated investment entities led the round, joined by other investors including Sequoia Capital, Andreessen Horowitz, Temasek and Baron Capital. The Vegas Loop has already transported over four million passengers and now operates 123 stations, while the company just broke ground on its 25th tunnel overall, the 14th in Las Vegas. The firm plans to use the funds to hire engineers, scale operations and production, and build Loop networks in Las Vegas, Nashville and Dubai, where a contract with transport authorities covers 6.4 kilometers and four stations.
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