Technology and Science10 September, 20261 min read
Elon Musk’s The Boring Company Raises $3 Billion Led by United Arab Emirates
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The Boring Company raised $3 billion in new financing led by the United Arab Emirates. The financing valued The Boring Company at about $23 billion.
Boring Company Funding
Elon Musk’s tunneling startup The Boring Company raised $3 billion in a new financing round, the company announced on Wednesday. The funding round was led by the United Arab Emirates and valued The Boring Company at $23 billion.
The UAE had previously awarded The Boring Company a contract to build one of its signature tunnels in Dubai. The announcement came as the article also referenced global spending on "clean" energy and tech plunging in the first half of 2026, though it said that was not the full story.
Startup Funding Rankings
A sponsored visualization in Visual Capitalist said the global startup funding landscape remains heavily concentrated in the United States, while India is strengthening its position as a major technology and innovation hub. The graphic reported the U.S. dominates with $244 billion in startup funding, compared with $15.2 billion for the UK and $10.5 billion for India.
It also said India recorded 42 tech IPOs in 2025, with only the U.S. at 60 listings. The piece framed the shift as a growing pipeline of Indian technology companies reaching public markets, extending beyond private funding totals.
Legal AI and Defense
Reuters reported that legal software startup Harvey raised $550 million at a $15.5 billion valuation in a funding round co-led by new investors Diffusion and Lightspeed Venture Partners. In the same Reuters update, Harvey said it has acquired San Francisco-based startup Guardrails AI, an AI security platform for agents, in its fourth acquisition this year.
Separately, CTech said secretive defense startup Covenant emerged from stealth with $250 million at over $1 billion valuation, with serial production expected to begin in 2027. CTech added that Covenant said it has booked approximately $150 million in orders to date and that U.S. production of Anthem will take place at a new 105,000-square-foot facility in Dallas, Texas, opened on Wednesday.