Elon Musk’s Boring Co. raises $675 million to build transportation tunnels

The Boring Co., a startup founded by Elon Musk, has raised new capital to fund the billionaire investor’s vision to alleviate traffic.

Vy Capital and Sequoia Capital led the $675 million funding round that valued the company at around $5.7 billion, the company said in a press release Wednesday. The Founders Fund of Peter Thiel, who is also an investor in Space Exploration Technologies Corp. of Mr. Musk, known as SpaceX, joined the cycle. New strategic real estate investors and existing backers also participated in the financing round.


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