Elon Musk's The Boring Company has completed a $3 billion Series D financing round, with its valuation reaching $23 billion.

According to the company's statement, The Boring Company under Elon Musk has completed a $3 billion Series D financing, with a valuation of $23 billion. This round of financing is led by the United Arab Emirates and its affiliated investment entities. The funds raised from this investment will be used for the large-scale implementation of underground infrastructure projects in the UAE, including a tunnel network with a total length of more than 150 kilometers. Other core investors in this round also include Human Capital, Vy Capital, Valor Equity Partners, HSG, a16z, Temasek, Shamal Holding and Baron Capital, while a large number of new and existing investors also participated in the follow-on investment. The cooperation agreement reached this time is a further expansion on the basis of the previously awarded bid for the Dubai Loop project. (Cailian Press)