Boring Company's startup Elon Musk raised $ 113 million to fund its vision for the near / far future of transportation, according to SEC documents recently filed by CNBC.
The startup, focused on the goal of creating underground tunnels, plays a central role in Musk's integrated vision of urban transportation, which he hopes will shape the way the public moves quickly and efficiently. effectively. Last month, Musk announced that the company would adjust its plans to prioritize pedestrian traffic over vehicles.
Much of the company's early efforts were to fight for permits and contracts with municipal governments. Although Musk said he hoped to use the company to alleviate the traffic problems in Los Angeles, the company is currently actively working with cities across the United States.
Today's documents do not offer much information on the details of the round beyond the cash amount because there were 31 participants undisclosed in equity financing. The company got the press for its less conventional "fundraising methods" until it sold pre-orders for brand name hats and, yes, flamethrowers.