Virgin Hyperloop One

Richard Branson’s Virgin Group, is developing the technology for passenger pods that will hurtle at speeds of up to 750 miles an hour (1,200 kph) through almost air-free vacuum tunnels using magnetic levitation.

Virgin Hyperloop is a developer of a transportation technology used to deliver fast, direct, and sustainable transportation at scale.

Virgin Hyperloop is an American transportation technology company that works to commercialize the high-speed technology concept called the Hyperloop, a variant of the vacuum train. The company was established on June 1, 2014 and reorganized and renamed on October 12, 2017.

Virgin Hyperloop is the only company in the world that has successfully tested hyperloop technology with passengers, launching the first new mode of mass transportation in over 100 years.

The company successfully operated an occupied hyperloop vehicle using electric propulsion and electromagnetic levitation under near-vacuum conditions, realizing a fundamentally new form of transportation that is faster, safer, cheaper, and more sustainable than existing modes.

The company is now working with governments, partners, and investors around the world to make hyperloop a reality in years, not decades.

Financials

Total Funding (June 2021) – US$358.4M

Last funding round – US$85M

Enterprise Value US$700M