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Hi-Tech / Hardware

The Boring Company Elon musk, raised its first external investment of $120 million

3DNews: Technology and market IT. News 26.07.2019 at 09:49

3DNews: Technology and market IT. News

The Company Ilona Mask (Elon Musk) has attracted its first foreign investment to Finance the development of transport systems, which are based on the underground tunnels. To receive funds the Boring Company has authorized the sale of the shares in the amount of $120 million the company plans the construction of transport tunnels that will speed up the movement between such cities as new York and Washington, Los Angeles and San Francisco. Before the main investors of The Boring Company was 8VC from Silicon valley, and Vy Capital, based in Dubai. According to the representative of The Boring Company, after a new infusion of funds, the investors value the company at $920 million the role of the main investors in the funding round took 8VC, Vy Capital, Craft Ventures, Valor Capital, and DFJ.