The Boring Company develops and builds tunnel-based transportation systems that combine underground tunnels with surface routes and vehicle transit. It operates a system in Las Vegas and has proposed or planned networks in Nashville, Baltimore, Chicago, Los Angeles and a multi-phase project in Dubai with publicly reported cost and timeline estimates. The firm was spun out of SpaceX in 2018 and has been pursuing large-scale expansion funded by recent private-market interest. Financially, reporting highlights a proposed $4 billion capital raise that would value the company at about $20 billion, a substantial increase from its $5.7 billion 2022 valuation. The company faces operational and regulatory headwinds, including reports of serious worker injuries and nearly 800 environmental violations in Nevada. Government discussions have also positioned the company as a potential contractor on major infrastructure projects, including work related to an Amtrak tunnel project.

Total raised

$908M

Funding rounds

4

Latest round

Series C

Latest activity

Apr 2022