On September 21, it was confirmed that Hyperloop One was able to secure $ 85 million in new financing rounds, totaling $ 245 million. This total is the culmination of 3 years of raising investors for the project.
This investment increases the project’s total valuation to 700 million dollars. Hyperloop One, so far, is the only company in the world with proven Hyperloop technology, and a Hyperloop system built. The company plans to maintain cooperation with governments and public-private partnerships.
This announcement comes exactly one month after the company unveiled the 10 possible routes for Hyperloop, including Chicago-Columbus-Pittsburgh, Miami-Orlando in the United States and Edinburgh-London in the UK.
Of course Hyperloop one is not the only company in the race for the functional Hyperloop concept, and last month Tesla CEO Elon Musk announced that his latest company, the Boring Company, has been given permission to augment its tunnel and also received approval for the construction of a New York City-to-Washington Hyperloop tunnel, despite being only verbal, and still needing some oddities before moving on to paper, and becoming official.
Hyperloop technology is truly revolutionary and is also the right path for the future, and can reduce daily chaos within cities by creating an efficient and fairly fast mode of transportation, and we cannot wait for the moment when this technology does part of our day-to-day life.