Virgin Hyperloop One has raised an additional $50m ahead of its Series C round of funding and also completed the third phase of testing at its hyperloop test site.

The funding was raised through investments made by existing investors Caspian Venture Capital and DP World.

Related Company Profiles

View all

The company achieved test speeds of 387km/h during trial exercises at its full-scale hyperloop test site, DevLoop.

“The recent investment by our partners Caspian Venture Capital and DP World sets up the company to pursue opportunities in key markets in the Middle East, Europe and Russia.”

A new airlock to help test pods transition between atmospheric and vacuum conditions more efficiently was also tested during this phase.

The tests were carried out in a tube that was depressurised down to air pressure equivalent to that experienced at 200,000ft above sea level.

All the system’s components, including the airlock, electric motor, advanced controls and power electronics, custom magnetic levitation and guidance, pod suspension and the vacuum were also tested during the trial period.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Virgin Hyperloop One chairman Richard Branson said: “The recent investment by our partners Caspian Venture Capital and DP World sets up the company to pursue opportunities in key markets in the Middle East, Europe and Russia as it develops game-changing and innovative passenger and cargo ground transport systems.”

The latest funding brings the total financing raised for the Virgin Hyperloop One project to approximately $295m since its founding in 2014.

Virgin Hyperloop One CEO Rob Lloyd said: “This investment provides Virgin Hyperloop One with a very robust financial platform for 2018 ahead of our Series C round of fundraising.”