Elon Musk says jobs up for grabs at his Boring Company, now valued at $5.6bn after latest funding round

Elon Musk’s The Boring Company has raised $675 million in a latest funding round.

In a tweet on Thursday, April 21, The Boring Company said it had raised $675 million at a $5.675bn valuation from A-list investors.

“Purpose is to recruit amazing people, scale up boring machine production & build thousands of miles of tunnels.”

Musk, who leads electric-car maker Tesla Inc and rocket company SpaceX, launched the Boring Company after complaining on Twitter in December 2016 that L.A.’s traffic was “driving me nuts,” promising to “build a boring machine and just start digging.”

In October, The Boring Company received initial approval to build a transportation system that would shuttle passengers in Tesla vehicles via a network of tunnels under Las Vegas beyond its current three-kilometre footprint that currently connects the Las Vegas Convention Center campus to a 46-kilometre route that would reach the top tourist spots in the city of sin.

Tusk tweeted: “Please consider working at The Boring Company!

“Our goal is to solve traffic, which plagues every major city on Earth.”

Please consider working at The Boring Company!

Our goal is to solve traffic, which plagues every major city on Earth. https://t.co/1tHNhIo7sd

— Elon Musk (@elonmusk) April 21, 2022

The latest funding round was led by Vy Capital and Sequoia Capital, with participation from Valor Equity Partners, Founders Fund, 8VC, Craft Ventures, and DFJ Growth.

The Boring Company says it will use the funds to significantly increase hiring across engineering, operations and production in order to build and scale Loop projects and accelerate the research and development of Prufrock, the company’s next generation tunnelling machine.

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