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The Austin area's largest venture investment to date goes to The Boring Company

(The Boring Company)

Venture capitalists have thrown a massive amount to The Boring Company in what is now the largest venture investment in the Austin area.

The Boring Company, Elon Musk’s effort to alleviate traffic by tunneling underneath cities, raised $675 million series C investment. That’s more than double what once was the largest raised, $300 million series E investment by Workrise. It also puts Boring at a valuation of almost $5.7 billion.

What else Pflugerville-headquartered Boring has been up to:

  • Recruiting for jobs in Austin and Bastrop for roles such as tunnel laborer, software development, finance, facilities management and more
  • Talking to San Antonio about a system to connect downtown to the airport and to Austin officials about its work in Las Vegas
  • Exploring the possibility of a pedestrian tunnel south of Austin, in Kyle

"The pedestrian underpass will connect people from the region to encourage multimodal movement to leisure and outdoor activities and integrate into the urban environment,” a preliminary engineering report for the Kyle project said. “The surrounding area will connect to a destination park, adjacent professional offices, dining, and retail options."

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