Elon Musk Just Poured More Than $100 Million Into The Boring CompanyThe Boring Company has raised $112.5 million in a recent round of funding, according to an SEC filing the company submitted on Monday.
This story originally appeared on业务Insider
The Boring Company, Elon Musk's tunnel-digging company, has raised $112.5 million in a recent round of funding,according to an SEC filingthe company submitted on Monday.
According to The Boring Company, no outside investors were involved in the funding round. The company said 90 percent of the funds raised came from Musk, while the rest came from early employees.
While Musk's name is not listed on the filing, it does include Steve Davis, a senior SpaceX engineerwhom Musk chose to leadThe Boring Company, and Jared Birchall, the president of Musk'sartificial-intelligence company Neuralink.
Musk foundedthe Boring Companyin 2016. He hopes to use the company to create underground tunnel networks that could house new, high-speed transportation systems like Hyperloop, which could carry passengers in pods at speeds of over 600 mph, and Loop, which resembles Hyperloop but would be used for shorter distances that require slower speeds.
In March, Musk said the company's tunnelswould prioritize pedestrians and cyclists over cars. He added that the company's tunnel networks would also transport cars, "but only after all personalized mass transit needs are met."
"It's a matter of courtesy & fairness," he wrote on Twitter. "If someone can't afford a car, they should go first."
While Musk has faced resistance from市政府andpublic transit experts, he hasreceived permission to build test tunnelsin California and Baltimore, and The Boring Company is one of two finalists to build a new transit system between Chicago's downtown area and O'Hare International Airport.
In the past year, Musk has used unconventional methods to raise money for The Boring Company, includinghats bearing the company's nameand $500branded flamethrowers. In March, Musk said the companywould sell interlocking, Lego-style bricksmade from rock and soil displaced by the company's tunnel-digging machines.
