Musk's Boring company received a new infusion of cash to build its Tesla tunnels Thursday.
Musk founded the company in 2016 with the aim of relieving traffic congestion without creating more surface roads.
"The funds from the round will be used to significantly increase hiring across engineering, operations, and production to build and scale Loop projects, including Vegas Loop and others, in addition to accelerating the research and development of Prufrock and future products," Musk's company said in a statement.Prufrock is the company's term for its boring machine, which it says can cut out a tunnel up to four miles long in less than a month.
"Prufrock-3 is designed to be even faster, with the medium term goal of 1/10 human walking speed, or 7 miles/day," the company said.
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