The Boring Company has raised $3 billion in a Series D funding round to expand its Loop projects, including a proposed network of more than 150km of underground transport infrastructure across the UAE. The round values Elon Musk’s company at $23 billion, according to the company and Gulf News.
The Boring Company UAE funding targets more than 150km of tunnels
The company said the funding will support hiring across engineering, operations and production, as well as the development of Loop projects in Las Vegas, Nashville and Dubai. The Boring Company UAE expansion is being built around the existing Dubai Loop partnership with Dubai’s Roads and Transport Authority.
The Boring Company listed Human Capital, Vy Capital, Valor Equity Partners, Sequoia Capital, Andreessen Horowitz, Temasek, Shamal Holding and Baron Capital among the Series D investors. Shamal Holding, a Dubai-based investor, did not disclose the size of its contribution.
The company said the investment will accelerate its UAE partnership and the deployment of underground infrastructure. That describes a planned buildout, rather than 150km of completed tunnels.
What the Dubai Loop project includes
The first Dubai Loop phase is a 6.4km pilot route with four stations linking the Dubai International Financial Centre and Dubai Mall. The wider alignment is planned to stretch 22.5km with 19 stations, connecting Dubai World Trade Centre, the financial district and Business Bay.
The Boring Company and RTA said in February that the project would require design work and permits before tunnelling could begin. The company’s Dubai project page targets the second half of 2026 for the start of tunnelling, subject to approvals and mobilisation.
The Dubai Loop tunnels are designed for electric vehicles rather than conventional metro trains. The company says the pilot could carry about 13,000 passengers per day, while the full Dubai route could reach approximately 30,000 passengers per day.
What the funding means for the UAE
The funding gives the Dubai Loop project a larger corporate budget and links it to a much broader UAE infrastructure proposal. Gulf News reported that the round is led by UAE-based entities. It does not, by itself, confirm routes, construction dates or a final cost for the 150km network beyond the announced Dubai project.
The Boring Company says its Loop system has carried more than four million passengers at the Las Vegas Convention Centre since 2021. Its Series D announcement also points to the company’s Nashville project, where tunnelling began after the necessary permit was issued.
Dubai’s pilot route is separate from the wider 150km figure. The first phase is estimated by the company and RTA at about $154 million, while the full 22.5km Dubai alignment was previously estimated at about $545 million.
The UAE already has a large underground transport network through the Dubai Metro. [Dubai’s smart parking network](https://tbreak.com/q-mobility-parkin-mou-smart-parking-abu-dhabi-dubai/) is another example of the region testing technology around urban transport. The new project would use road-sized tunnels and direct vehicle journeys rather than fixed metro lines.
How much did The Boring Company raise?
The Boring Company raised $3 billion in a Series D funding round that values it at $23 billion.
Has construction started on 150km of UAE tunnels?
No. The 150km figure describes the proposed UAE infrastructure buildout. The Dubai Loop pilot still requires design work, permits and mobilisation before tunnelling.
What is the first Dubai Loop route?
The first phase is a planned 6.4km route with four stations linking the Dubai International Financial Centre and Dubai Mall.
