(Reuters] – Elon Musk’s The Boring Company secured $675 million from Series C. The company now estimates the tunneling business at $5.675billion. The Boring Company announced https:// Wednesday that it has received the funds. The proceeds will be used for sectoral hiring.

Vy Capital was the lead investor. Sequoia Capital participated. Valor Equity Partners and Founders Fund were among those participating. Craft Ventures, 8VC and Craft Ventures are also part of the financing round.

Boring Company launched its Las Vegas commercial tunnel project last June. It was designed to take visitors around the Convention Center in a human-driven Tesla (NASDAQ) vehicle.

Musk is also the CEO of Tesla Inc, an electric vehicle manufacturer, and SpaceX, a rocket company. He wants to transform transportation by transporting passengers through a system of underground vacuum tubes that runs in cities, known as hyperloop.

Musk previously sold hats from Boring Company and flamethrowers in order to raise money.

Musk was a billionaire who took aim at Musk last week Twitter Inc The offer price for the $43 billion cash purchase was made by (NYSE:). The $54.20 price he offered per share represented a 38% premium over Twitter’s April 1, closing, which was the day prior to his 9.1% stake.