Jul 26, 2019

Elon Musk's transportation tunneling startup raises $120 million

Photo: Robyn Beck / POOL / AFP/Getty Images.

The Boring Company, Elon Musk's transportation tunneling startup, raised $120 million toward a venture valued at $920 million.

Why it matters: This is Boring's first outside investment round, having previously raised $113 million from Musk and early employees (plus that $10 million from flamethrower sales).

  • Investors reportedly include 8VC, Vy Capital, Craft Ventures, Valor Capital and Steve Jurvetson's Future Ventures.

Bottom line: "In May, Boring won its first commercial transportation contract, a $48.7 million mile-long project to shuttle visitors around the Las Vegas Convention Center. The project will provide an important test of whether it can really dig more cheaply than competitors and navigate the government bureaucracy involved in municipal projects," says Bloomberg.

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Venture capital cash is pouring into podcast companies

Data: Pitchbook; Chart: Axios Visuals

Venture capital money is pouring into podcast companies, with roughly 3x times as many deals being brokered today than 10 years ago.

Why it matters: Data has long suggested podcast listenership would explode as more Americans adopt smart speakers and voice assistants in their homes.

Go deeperArrowAug 20, 2019

Exclusive: Pro-Trump outside groups jointly raise $17.8 million

Photo: Chip Somodevilla/Getty Images

The pro-Trump super PAC America First Action and its affiliated 501(c)(4) nonprofit, America First Policies, have jointly raised $17.83 million in the first 6 months of 2019 and will report $21 million cash on hand to the Federal Election Commission, according to an America First Action official.

Where it stands: The conservative organization, which Trump has blessed and which is led by former Small Business Administrator Linda McMahon, reports having jointly brought in 16,649 total donations from 11,655 unique contributors. An America First Action official also told Axios it has $40 million in outstanding donor pledges, and has collected $3.75 million of those pledges since the end of the reporting period on June 30.

Go deeperArrowJul 31, 2019

Toy startup "Superplastic" raises $10 million in Series A funding

Source: Superplastic Instagram account

Superplastic, a Burlington, Vt.-based designer toy startup founded by Paul Budnitz (Ello, KidRobot), has raised $10 million in Series A funding led by Craft Ventures.

Why it matters: This coincides with Superplastic trying to turn two of its most popular characters into virtual Instagram stars, a burgeoning niche.

Go deeperArrowJul 31, 2019