The Boring Company has raised US$3bn in a funding round led by United Arab Emirates, where it plans to build more than 150km of tunnels.
The funding, which values the company at US$23bn, builds on the collaboration with the UAE on the Dubai [https://www.tunnelsandtunnelling.com/news/dubai-loop-project-moves-forward/]Loop.
“This strategic investment will accelerate the partnership to deploy mass quantities of underground infrastructure across the United Arab Emirates, including 150+ kilometres of tunnel,” The Boring Company (TBC) says in a statement.
The funds from the round will be used to increase recruitment across engineering, operations, and production, to build and scale Loop projects, including Vegas Loop, Music City Loop in Nashville, and Dubai Loop, in addition to accelerating the research and development of the Prufrock tunnel boring platform and future products.
The company says that over the past two years it has grown from a single operating Loop system to a multi-city tunnelling programme, “pairing faster machine design with the first hard-rock project, the first international construction contract, and a substantial expansion of Vegas Loop”.
It says Prufrock is the centre of that shift. Newer machines can launch and retrieve directly from a transporter known as The Monster, eliminating the traditional launch pit, crane, and heavy civil preparation.
In May 2025, TBC demonstrated Zero-People-in-Tunnel continuous mining, advancing the machine and erecting a full tunnel ring with no crew in the tunnel.
“By August 2026, ring building was fully autonomous: six concrete segments of about 3,750 pounds each were placed with millimetre precision in less than a minute and monitored from the company’s Global Operations Control Centre in Texas,” TBC says.
Supporting systems introduced in the same period include Liner Truck 3, an all-electric segment hauler based on Tesla Model 3 battery and drive units, and Vertical Cassette 7, a continuous conveyor designed to move up to 990 tons of material per hour and support advance rates of up to 6.4km per week.
