Four Years Later…

Elon Musk has Tesla. SpaceX. xAI.

And then there’s The Boring Company.

The less-famous member of the Musk collection has spent the past few years digging tunnels beneath Las Vegas. This week, it made considerably more noise above ground.

The company raised $3 billion in a new Series D, giving it a $23 billion valuation— roughly four times what it was worth in 2022.

Let’s see what $23 billion is betting on.⇩

SPONSOR BREAK presented by DealMaker*

The Brains Behind Colombia’s Iconic Coffee

Two entrepreneurs from Wall Street came to Colombia, and discovered a coffee sector decades behind the curve, suffering from a broken supply chain. They decided to do something about it.

They built Green Coffee Company (GCC), Colombia’s #1 largest coffee producer, operating 45 FairTrade-certified farms with 10M+ coffee trees planted. With the exclusive rights to distribute Colombia’s iconic coffee brand, Juan Valdez, across the US and Canada, they are bringing GCC’s delicious coffee directly to millions of customers.

In just four years, their vertically-integrated business model saw 26X revenue growth. They’ve expanded their presence in Target from 55-300+ locations, and are in 3,000 locations in other major retailers like Kroger and Walgreens.

Now, they’re expanding into Canada after securing sales through the country’s largest food retailer, Loblaws. Don’t miss your chance to invest in GCC at $1.10/share before the share price changes after 9/30.

Disclaimer: Green Coffee Company is offering securities through the use of an Offering Statement that has been qualified by the Securities and Exchange Commission under Tier II of Regulation A. A copy of the Final Offering Circular that forms a part of the Offering Statement may be obtained from:  https://invest.greencoffeecompany.com

Up We Go.↑

Back in 2022, The Boring Company was valued at roughly $5.7 billion.

This week, that number reached $23 billion

The latest round brought in $3 billion of fresh capital — and pushed The Boring Company into a very different valuation bracket.

✱ What’s Series D?
A Series D is simply a later-stage round of private fundraising.

A startup typically raises money in stages:

Seed → Series A → Series B → Series C → Series D

By the time a company reaches Series D, it’s usually well beyond the early startup phase. Investors are putting in additional capital to help it expand, build infrastructure, enter new markets, or otherwise scale the business.

So, where is all that money going?↓

“The Boring Company” is preparing to build 150+ kilometers of underground infrastructure in the UAE, while expanding its Vegas network and working on another tunnel system in Nashville.

Who’s Writing The Checks?

The Boring Company didn’t have much trouble finding company for this round.

The UAE and its affiliated investment entities led the $3 billion raise, alongside a fairly familiar group of heavyweight private-market investors:

1| Human Capital — venture capital firm and longtime Musk-company investor
2| Vy Capital — technology-focused investment firm
3| Valor Equity Partners — growth investor with a history of backing Musk companies
4| Sequoia Capital — one of Silicon Valley’s best-known venture firms
5| Andreessen Horowitz (a16z) — major Silicon Valley venture firm
6| Temasek — Singapore’s state-owned investment company
7| Shamal Holding — Dubai-based investment company
8| Baron Capital — U.S. investment firm known for long-term growth investing

The UAE’s involvement is particularly notable because it’s also becoming one of The Boring Company’s biggest customers.

The fresh capital will help expand that relationship, including plans for 150+ kilometers of underground infrastructure across the UAE, separate from the previously announced Dubai Loop.

So as the UAE puts money into The Boring Company, The Boring Company is preparing for its largest expansion beyond the U.S.

SPONSOR BREAK presented by DealMaker*

The Brains Behind Colombia’s Iconic Coffee

Two entrepreneurs from Wall Street came to Colombia, and discovered a coffee sector decades behind the curve, suffering from a broken supply chain. They decided to do something about it.

They built Green Coffee Company (GCC), Colombia’s #1 largest coffee producer, operating 45 FairTrade-certified farms with 10M+ coffee trees planted. With the exclusive rights to distribute Colombia’s iconic coffee brand, Juan Valdez, across the US and Canada, they are bringing GCC’s delicious coffee directly to millions of customers.

In just four years, their vertically-integrated business model saw 26X revenue growth. They’ve expanded their presence in Target from 55-300+ locations, and are in 3,000 locations in other major retailers like Kroger and Walgreens.

Now, they’re expanding into Canada after securing sales through the country’s largest food retailer, Loblaws. Don’t miss your chance to invest in GCC at $1.10/share before the share price changes after 9/30.

Disclaimer: Green Coffee Company is offering securities through the use of an Offering Statement that has been qualified by the Securities and Exchange Commission under Tier II of Regulation A. A copy of the Final Offering Circular that forms a part of the Offering Statement may be obtained from:  https://invest.greencoffeecompany.com

And More…

A big part of the expansion comes down to how quickly The Boring Company can actually dig.

✱ That’s where Prufrock comes in.

It’s the company’s latest tunnel-boring platform, designed to make building large amounts of underground infrastructure faster and increasingly automated.

And in August, The Boring Company took another step in that direction, completing a partially built tunnel autonomously — with no workers in the pit during that portion of the build.

The company calls the approach “zero-people-in-pit,” or ZPIT.

The idea is: if you want to build a lot more tunnels, you need to get considerably better at building tunnels.

The Boring Question…

For all the expansion plans, The Boring Company still has just one tunnel network in operation: the Vegas Loop.

→ The system has been growing, adding stations at Westgate, Encore, Fontainebleau, and Sahara Las Vegas, with an airport connection expected next.

So far, the company says the Loop has carried more than 4 million passengers.

Next on the map is Nashville, where work on the Music City Loop began in February. The planned network will connect the airport with Lower Broadway and Music City Center.

!!! One Question Still Underground.

Building more tunnels is one thing. Moving enough people through them is another.

Critics have questioned whether the model can meaningfully reduce traffic, pointing to the number of vehicles and passengers a tunnel of this size can handle at once.

And every new city brings another layer of complexity — from construction and environmental considerations to local approvals.

That leaves The Boring Company with something still to prove as it expands:

Can what works in Vegas work at a much larger scale?

The $3 Billion To-Do List…

!!! Writing the check was apparently step one.

According to The Wall Street Journal, some investors in The Boring Company’s latest round were expected to contribute more than capital.

The TO-DO List:

1 — Find people: Some were given descriptions of positions the company needed to fill — and expected to help identify or recruit candidates.

2 — Open doors: In some cases, investors were also expected to make introductions to government officials in cities where The Boring Company hopes to build future projects.

Or lose some shares: If investors failed to identify viable candidates, the company reportedly retained the right to repurchase some of their shares.

Source: Wall Street Journal · September 9, 2026

✱ Musk’s response to the report on X?

“True.”

It sounds like an eccentric fundraising clause, but it also says something about what The Boring Company needs most.

The company just raised $3 billion. Capital clearly isn’t the only constraint. Expanding into new cities requires specialized employees and local government relationships — things a large bank balance alone can’t provide.

Turns out, $3 billion can still come with a to-do list.

Lesson Of The Day:

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