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The Virgin Group Invests In Hyperloop One

14 October, 2017, 00:41 | Author: Priscilla Morrison
  • Hyperloop One raised an $85 million round at a valuation that tops $700 million

The investment will see Hyperloop One rebranded as "Virgin Hyperloop One" in coming months, with Branson joining its Board of Directors.

Virgin's plan is to focus on using Hyperloop One to transport passengers and cargo. The vehicle then floats above the track using magnetic levitation and travels at high-speed over long distances due to ultra-low aerodynamic drag.

The amount Virgin has invested has not been disclosed, though the startup is believed to have raised more than $226 million since its founding in 2014, according to Crunchbase.

Built with the global construction company BAM, and with investments and support from the Dutch infrastructure and environment ministry, the Delft University of Technology, and national train company NS, Hardt will operate the test facility to develop its own Hyperloop transportation system.




"We can't think of a better person than Richard or a better brand than Virgin to be our true partner in the continued quest to make our moonshot idea a reality", said the announcement from Hyperloop One.

Ever since our creation, Virgin has been known for disruption and investing in innovative companies.

During phase two of testing, the duration of the longest test was 10.6 seconds - with a top speed of 310kmh. The vehicle reportedly coasted above the first portion of the track for 5.3 seconds and reached almost 2Gs of acceleration while achieving the target speed of 70mph. Hyperloop One stages the first public demonstration of a key component of the startup's futuristic rail transit concept that could one day ferry passengers at near supersonic speeds. The West Coast Main Line, which HS2 will mostly duplicate, is at near full capacity during morning peak hours on its southern stretches, with 200kph (125mph) trains running at intervals of just 120 seconds. The 67-year-old British entrepreneur founded Virgin Galactic in 2004 with the stated goal of making space tourism accessible to the masses. During this trial they used full-scale Hyperloop passenger pods at their DevLoop site in Nevada, in the US.

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