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Elon Musk’s Boring Company

Elon Musk’s Boring Company
April 27, 2022

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While the future of Twitter is hotly debated elsewhere on the Internet, we’re taking this moment to check in on Mr. Musk’s other company. No, not the other headline nabbing contenders, Tesla or SpaceX. This is the boring one–literally. 

The Boring Company, in case you didn’t know, was initially a back-of-the-napkin idea Musk had for hyperloop technology, or transportation for people and cargo through high-speed (700 mph) tunnels. So far, the company has created a lo-fi version of the concept, using Teslas as shuttles in an underground 1.7-mile tunnel in Las Vegas. The plan has since expanded to include a 29-mile stretch to the international airport.

While Twitter is Elon’s push for free speech, The Boring Company is Elon’s answer to traffic congestion. Tweeting Sunday night about the worst cities by congestion, Musk signaled he was returning to his initial plans of building hyperloop technology and replying to threads asking for hyperloop for hurricane evacuations and Korean BBQ cravings.

Last week, the company captured a $5.7BN valuation with a $675MM Series C led by Vy and Sequoia Capital. With a 2008 measure to support a high-speed rail system in California not expected until at least 2030, some are hopeful Musk beats the state to it.

Question–does this guy sleep?

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Since last week, PrivCo has added:
905 Companies | 309 Funding Activities | 149 M&A Deals

Funding & Deal Highlights:

AngelList raises another $44M from Tiger Global

Platform • Round C • San Francisco, CA

Planhat raises $50MM from Sprints

Customer Relationship Management • Round A • Stockholm, Sweden

Vobile raises $127MM from HSBC Holdings

SaaS • Equity • Santa Clara, CA

Syllable raises $40MM from TCV

Workflow Management • Round C • Sunnyvale, CA

Fu-Gen raises $342MM from Arkin Group

Renewable Energy • Equity • Arkin Group

Anuvia secures $65.5MM from Riverstone

Agricultural • Round C • Riverstone

Rario raises $120MM from Dream Capital

NFT • Round A • Gurgaon, India

Capella Space raises $97MM from NightDragon

Geospatial • Round C • San Francisco, CA

Hour One raises $20MM from Insight Partners 

Consumer Software • Round A • New York, NY

RelationAI raises $75MM from Tiger Global

Software Development • Round B • Berkeley, CA

Vega completes acquisition of Volt

Recruitment • Acquisition • New York, NY

Advanced Energy completes acquisition of SL Power

Electronics • Acquisition • Ventura, CA  

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