12:18 - 10.09.2026

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September 10, Fineko/abc.az. Elon Musk’s tunneling venture, The Boring Company, has raised $3 billion in its Series D funding round backed by UAE sovereign-linked entities and global venture firms, driving its valuation to $23 billion.

The investment round included participation from Sequoia Capital, Andreessen Horowitz (A16Z), Temasek, Vy Capital, Valor Equity Partners, and Shamal Holding.

According to the company, the capital injection will fund the expansion of underground transport infrastructure across the UAE, spanning over 150 kilometers of tunnels, and build upon its previously awarded Dubai Loop transit project.