The Boring Company raises $3bn at a $23bn valuation, led by the UAE

The Boring Company raised $3 billion in a Series D round at a $23 billion valuation, led by UAE investors and joined by Sequoia, Andreessen Horowitz and Temasek. The funding will support more than 150 km of tunnels in the UAE and projects in Las Vegas, Nashville and Dubai. The round contains a clause obligating investors to recruit staff or introduce municipal officials, with a share-repurchase right if unmet. New Prufrock machines claim autonomous segment placement, up to four miles of advance per week, and aim for milestones such as four million Vegas Loop passengers and rapid tunnel completions.