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Elon Musk's The Boring Company announced the completion of a $3 billion Series D funding round, raising the company's valuation to $23 billion. The round was led by the United Arab Emirates and its affiliated investment entities, with the funds primarily earmarked for large-scale underground infrastructure projects in the UAE, including the construction of a tunnel network spanning over 150 kilometers. Key investors such as Human Capital, Vy Capital, Valor Equity Partners, Sequoia Capital, a16z, Temasek, Shamal Holding, and Baron Capital also participated in this round, alongside a significant number of new and existing investors. This partnership agreement represents a further deepening of collaboration following the previous award of the Dubai Loop project.
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