The Boring Company Announces Series D Funding

The Boring Company, solving traffic, enabling rapid point-to-point transportation, and transforming cities, has announced a Series D funding round of $3B, led by the United Arab Emirates and affiliated investment entities. The financing now values The Boring Company at $23 billion. Other key investors in the round include Human Capital, Vy Capital, Valor Equity Partners, Sequoia Capital, A16Z, Temasek, Shamal Holding, and Baron Capital, in addition to other valued existing and new investors.

Building on its existing collaboration with the UAE on Dubai Loop, the strategic investment will accelerate plans to deploy more than 150 kilometres of underground infrastructure across the United Arab Emirates. The agreement is separate from the previously awarded Dubai Loop project.

Over the past two years, The Boring Company has expanded from a single operating Loop system into a multi-city tunneling program, alongside faster machine development, its first hard-rock project, its first international construction contract, and a major expansion of Vegas Loop.

Prufrock at the Center.

The Boring Company’s Prufrock tunnel-boring platform is central to its approach. Newer machines can launch and retrieve directly from The Monster transporter, eliminating traditional launch pits, cranes, and extensive civil preparation.

In May 2025, the company demonstrated Zero-People-in-Tunnel (ZPIT) continuous mining, combining excavation and tunnel-ring installation without crews underground. By August 2026, ring building had become fully autonomous, with six concrete segments weighing about 3,750 pounds each installed with millimeter precision in under a minute. Supporting systems include the electric Liner Truck 3 and Vertical Cassette 7 conveyor, designed to move up to 990 tons of material per hour and support advance rates of up to four miles per week.

Vegas Loop.

Vegas Loop remains The Boring Company’s operating showcase, with new stations and connectors at Westgate, Encore, Fontainebleau and Sahara Las Vegas. The Encore connector was completed in under 12 weeks, cutting a journey that can take 15 minutes on surface streets to around 55 seconds.

The company has added Cybertrucks to the fleet, demonstrated Full Self-Driving on selected segments, and begun limited airport service to Harry Reid International Airport. Clark County has approved 19 additional stations, bringing the entitled network to 123 stations, while more than four million passengers have now used the system.

The Boring Company has also begun tunneling its 25th tunnel overall and 14th in Las Vegas.

Beyond Nevada.

The Boring Company has expanded beyond Nevada with Music City Loop in Nashville, its first hard-rock tunneling project. After receiving a Tennessee permit in February 2026, tunneling began immediately, with multiple Prufrock machines now being deployed. The project has also secured support for airport and convention-center stations, alongside residential and commercial station agreements.

Internationally, the company signed a contract with Dubai’s Roads and Transport Authority for the pilot phase of Dubai Loop, covering 6.4 kilometres of tunnel and four stations, with construction planned for late 2026. The company has also completed the Cybertunnel at Tesla’s Giga Texas, cutting Cybertruck transfers from around 12 minutes on surface roads to less than a minute underground.

Together, these projects mark a shift from a Las Vegas people-mover to a repeatable tunneling system capable of operating remotely, in both soft soil and hard rock, across the US and internationally.

The Mission.

Founded by Elon Musk, The Boring Company aims to reduce traffic and transform urban transportation by moving roads underground. Its Loop system is designed as an express, point-to-point network that allows passengers to travel directly to their destinations without intermediate stops, while freeing valuable surface space for pedestrians and public areas.

The new funding will support increased hiring across engineering, operations, and production, expansion of Loop projects including Vegas Loop, Music City Loop, and Dubai Loop, and continued development of Prufrock and future tunneling technologies.

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