Participated · Series B · Sep 2017

Virgin Hyperloop One is a Los Angeles-based developer of futuristic transportation technology focused on hyperloop systems. The company builds high-speed transport technology intended to move passengers and cargo in vacuum-sealed pods. According to a regulatory filing dated May 20, 2019, Virgin Hyperloop One raised $172.2M in a funding round. That raise was reported as part of an ongoing $224.7M funding effort. The filing indicated the funding included 80 investors. The company and the article did not disclose further details about the financing or operational metrics. Hyperloop One is a three-year-old, L.A.-based company developing near-supersonic trains that move passengers and cargo through pressurized pneumatic tubes. The company has demonstrated a proof of concept — in July it accelerated a 28-foot aluminum-and-carbon-fiber pod to 192 mph down a 1,600-foot test tube. The Verge and TechCrunch note the company currently has no commercial product, no revenue stream, no government approval, and no proof that the system would be safe for human passengers. Hyperloop One has promoted partnerships and feasibility studies with governments around the world, though those efforts remain preliminary. The company raised $85 million in fresh funding and now reports $245 million in total funding; the new financing reportedly values the company at $700 million. Observers cited in the articles contrasted Hyperloop One’s approach with Elon Musk’s Boring Company, which proponents argue could be a lower-cost, more practical tunneling alternative. TechCrunch's Crunch Report noted that Hyperloop One has received $50 million in funding from DP World Group of Dubai. The article did not describe the company’s core product, services, or operations. No operating metrics (revenue, users, or similar) were reported alongside the funding announcement. The report also did not specify the financing instrument (equity, debt, or other) or list additional investors. The funding item appeared among other headlines in TechCrunch's Crunch Report produced by Tito Hamze and John Mannes. No further financial details or use-of-proceeds information were provided in the article. Hyperloop One (formerly Hyperloop Technologies) is developing vacuum tube‑based high‑speed transportation inspired by Elon Musk’s Hyperloop concept. The company is based in Los Angeles and was founded by Shervin Pishevar and Brogan BamBrogan shortly after Musk outlined the idea. Management shifted last September when Hyperloop One hired Rob Lloyd as CEO and moved BamBrogan to CTO. In the nearer term the company says it will focus on shipping cargo across the U.S. and globally to reduce trucking emissions and transit times. Hyperloop One conducts propulsion open‑air tests (POAT) — including one in North Las Vegas — and is participating in privately funded feasibility studies for routes in Finland and Sweden. The company has added a number of global engineering and consulting partners, including AECOM, ARUP, Bjarke Ingels Group, Deutsche Bahn Engineering & Consulting, KPMG and others.