Encore electric linkedin11/27/2023 ![]() ![]() Prufrock was under development by May 2018. The company would later design their own line of machines called Prufrock. The first boring machine utilized by The Boring Company was Godot, a conventional TBM made by Lovat. Tunnels from the convention center to Encore and Westgate resorts have been dug on the scale of weeks, not years (as compared to metros), and are in their final preparation stages before opening in 2024.īoring machines The boring machine in 2019 Ĭurrently, tunnels connecting different parts of the LVCC are open, and a tunnel to Resorts World started operating in July 2023. Sometime before April 2023, the company moved their headquarters and engineering facilities to Bastrop, Texas. The round was led by Vy Capital and Sequoia Capital, with participation from Valor Equity Partners, Founders Fund, 8VC, Craft Ventures, and DFJ Growth. On April 20, 2022, the company announced an additional $675 million Series C funding round, valuing the company at approximately $5.675 billion. In November 2020, TBC announced hiring for positions in Austin, Texas, and by December 2020 had leased two buildings in a 14-acre (5.7 ha) industrial complex northeast of Austin, approximately 16 miles (26 km) north of Texas Gigafactory. Davis was one of the earliest hires at SpaceX (in 2003) and has twin master's degrees in particle physics and aerospace engineering. By November 2019, Steve Davis had become company president after leading efforts for Musk since 2016. In July 2019, the Boring Company sold US$120 million in stock to venture capital firms, after raising $113 million in non-outside capital during 2018. The Hawthorne test tunnel opened to the public on December 18, 2018. ![]() The company began designing its own tunnel boring machines, and completed several tests in Hawthorne, California. Early employees came from a variety of different backgrounds, including those from SpaceX. Somewhat less than 10% of equity was given to early employees, and over 90% to Elon Musk. In early 2018, the Boring Company was spun out from SpaceX and into a separate corporate entity. Elon Musk during the inauguration of the test tunnel in Hawthorne, California ![]() According to Musk, the company's goal is to enhance tunneling speed enough such that establishing a tunnel network is financially feasible. The Boring Company was formed as a SpaceX subsidiary. Musk cited difficulty with Los Angeles traffic, and what he sees as limitations of its two-dimensional transportation network, as his early inspiration for the project. Musk announced the idea of the Boring Company in December 2016, and it was officially registered as "TBC – The Boring Company" on January 11, 2017. History Elon Musk discusses the Boring Company at TED 2017. Many United States cities have expressed interest in building tunnels, such as Austin, Texas. TBC also completed one tunnel for testing in Los Angeles County, California. The system is planned to expand to a total of 68 miles of tunnels in Las Vegas. As of July 2023, a segment to Resorts World is also open, and tunnels to Encore and Westgate resorts are being finalized. In 2021, TBC completed the Las Vegas Convention Center (LVCC) Loop, which is a three-station transportation system consisting of 1.7 miles (2.7 km) of tunnels. ![]() TBC has completed one tunneling project that is open to the public, as well as a test tunnel. TBC was founded as a subsidiary of SpaceX in 2017, before being spun off as a separate corporation in 2018. TBC – The Boring Company is an American infrastructure and tunnel construction services company founded by Elon Musk. ![]()
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