Elon Musk’s the Founder of the SpaceX Company, Who is also the owner of a tunnelling startup “The Boring Company” has raised $113 million to fund its vision of the near/distant future of transportation, according to newly filed SEC docs first spotted by CNBC.
The Boring Company which is a startup, which is vision is around the creating of underground tunnels for transportation that stand as the main part of the Elon Musk’s integrated view of fast and smart transportation using Hyperloop that he hopes will shape how the public moves about in a quick and efficient way. Last month, Musk announced that the company would be adjusting its plans to prioritize pedestrian traffic over vehicles.
A major part of the company’s early efforts have been in fighting for permits and contracts with city governments. Though Musk has indicated that he hopes to use the company to alleviate the problems of LA traffic, the company is also currently actively engaged in working with cities across the U.S.
With this Huge Fund, Many people are waiting for what the startup is going to achieve with the fund adding to the record-breaking approach of the Founder and for the longtime promise of the smart-city transportation technology.