Elon Musk's Boring Company raises $3 billion in UAE-led funding round
Elon Musk's Boring Company has announced it raised $3 billion in its latest funding round, which was led by the UAE . The company made the announcement on Wednesday, stating it was building on the already strong relationship with the Emirates. In May, The National reported how construction was under way on the Dubai Loop , a high-speed underground transport network aimed at cutting congestion in…
Elon Musk's Boring Company has secured $3 billion in funding for its underground transport projects in the United Arab Emirates, led by the UAE government. This Series D investment, which values the company at $23 billion, is set to accelerate the partnership on the Dubai Loop, a high-speed underground transport network aimed at reducing congestion in Dubai.
The Dubai Loop, which is expected to start operations within two years, is projected to cover 22km and have 19 stations, including connections between the DIFC and Dubai Mall. The Boring Company's statement highlights the strategic collaboration with the UAE on the Dubai Loop, emphasizing that this funding round builds upon their existing strong relationship with the Emirates.
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Also reported by 3 other outlets
- Musk’s Boring Company Raises $3 Billion for Dubai Loop Transportation Network ventureburn.com
- The Boring Company raises $3 billion as demand for Musk Inc booms businessinsider.com
- Boring Company: Musk-Tunnelbauer sammelt drei Milliarden Dollar ein handelsblatt.com
