Boring Company Raises $3 Billion, UAE Leads Round at $23 Billion Valuation
Elon Musk's tunneling firm secured a new funding round led by the United Arab Emirates, lifting its valuation to $23 billion.
AfroEuropa Newsroom
AfroEuropa desk
The Boring Company, Elon Musk's tunneling venture, has raised $3 billion in a new funding round that values the business at $23 billion, the company said on Wednesday.
According to Ventureburn, the round was led by the United Arab Emirates and affiliated investment entities. Other participants included Sequoia Capital, Andreessen Horowitz, Temasek, Valor Equity Partners, Vy Capital, Human Capital, Shamal Holding and Baron Capital.
The new valuation marks a fourfold increase from the company's previous mark. In 2022, The Boring Company was valued at $5.7 billion after raising $675 million.
Keep reading
Rivian's R2 Becomes Best-Seller as Q3 Revenue Climbs 38%
Rivian reported Q3 2026 revenue of $2.155 billion, up 38% year-over-year, and raised its 2026 guidance, though its vehicle business remains unprofitable.
Other highlights
WhatsApp Rolls Out Group Status and Message-Sharing Updates
The messaging app introduced Group Status updates visible only to group members, along with tools to share old messages with new members and pin messages.
Follow the story
One newsletter, two continents
The Bridge brings you the tech, startups, and leaders moving between Africa and Europe in one sharp email each morning. No spam, unsubscribe anytime.
