FILE PHOTO: A modified Tesla Model X, and the stations at the tunnel entrance, for the opening of the event, which is for the Boring Co. Hawthorne, a test tunnel in Hawthorne, California, u.s. on December 18, 2018. Robyn Beck/Pool via REUTERS
(Reuters) – Elon Musk, but the Co made about $117 million in its latest round of funding, from 20 to unnamed investors in the offering for sale of approximately $120 million in equity capital, the company disclosed in a regulatory filing on Friday.
The company raised $112.5 million in equity capital in April last year, with Musk investing 90% of the amount due, and the company is trying to build underground tunnels for the hyperloop transportation project. (few.rs/2DIZwLJ)
Bland Co. did not give any details about the financing.
Musk, who also directs the electric car maker Tesla Inc. (TSLA.And rocket company SpaceX, was in search of a revolution to come to an end for the transmission of passengers to be packed in the stores by the train system of the giant underground vacuum tubes and is known as the hyperloop.
In the past, Musk has sold in Bland Co., hats, and flame-throwers for the money.
The company has a project to Test the Tunnel, which is located in Hawthorne, California, as well as other ongoing projects include, among others, the Chicago Express-the Loop-and it’s Las Vegas, Las Vegas Convention Center, the Loop. (a little bit.m/2NenvXU)
Reporting Akanksha Rana, Bengaluru; Editing by Anil D’silva