The Boring Company raises $3B Series D led by UAE
Original: The Boring Company raises $3B in round led by UAE
Why This Matters
A $23B valuation signals growing sovereign and institutional appetite for underground urban transport infrastructure.
Elon Musk's tunneling startup The Boring Company announced a $3 billion Series D round on September 10, 2026, led by the United Arab Emirates, pushing its valuation to $23 billion. The company plans to dig over 150 kilometers of tunnels in the UAE.
The Boring Company, Elon Musk's tunneling infrastructure startup, has closed a $3 billion Series D funding round, valuing the company at $23 billion. The round was led by the United Arab Emirates government, with participation from Andreessen Horowitz, Sequoia Capital, Human Capital, Vy Capital, and Valor Equity Partners. In connection with the investment, The Boring Company announced plans to construct more than 150 kilometers of tunnels across the UAE. The Wall Street Journal had previously reported in July 2026 that the company was seeking up to $4 billion in new capital. To date, The Boring Company's primary operational footprint has been in Las Vegas, Nevada, where it runs a network of tunnels connecting hotel casinos and the Las Vegas Convention Center. The company recently began work on a 10-mile underground loop project in Nashville, Tennessee. The Boring Company's stated mission is to 'solve traffic' by routing vehicle travel through a three-dimensional underground tunnel network.