Oh, I am one of those people that don't see raising money as anythng else than success in raising money. Which is success, but doesn't mean that the company is successful, yet.

Well ok.

So we have a company that is growing and has costumers in the pipeline. Their first costumer is so happy that they want to extend the system considerably.

But that I guess is not enough either?

What more do you want other then happy costumers, new costumers and the ability to raise money on the bases of those things?

This is a company that builds actual machines. They make their own tunnel boring equipment. That is a capital intensive businesses not a software startup. They need to raise money to expand production.

Raising half a billion dollars is a massive vote of confidence from investors who have poured through the projections in fine detail.