Hyperloop's Boring Co. Raises Millions
Successful New Round of Funding Source: Boring Company CEO Alon Musk Plans for LA, Chicago, Baltimore and More Elon Musk's Boring Company has raised $117 million in its latest round of funding. The money came from 20, unnamed investors in return for $120 million in equity in the company. Entrepreneur/CEO Elon Musk has big plans for the company and the investment money to develop the hyperloop and loop. Networks of Underground Vacuum Tubes for Very Fast Transit Musk's hyperloop, which are passenger transit pods travelling inside vacuum tubes, has the potential to travel at speeds up to 760 mph. The system would carry passengers 350 miles in 35 minutes. He has completed testing his Loop project Test Tunnel, which transports cars through underground tunnels, parks them underground and then retrieves them for drivers. The purpose of Loop is to reduce the number of cars on the road. Loop and Hyperloop Projects Musk has a number of projects u...