Virgin Group has invested in the Hyperloop One low-pressure tube train system, which has been rebranded Virgin Hyperloop One. The technology remains in the early stages of the commercialisation phase following the completion of the first full-scale systems test at the DevLoop site near Las Vegas.
Hyperloop One is currently working on projects in the Middle East, Europe, India and Canada. The company last month announced the 10 winners of its One Global Challenge which was aimed identifying the world’s most promising new routes. Hyperloop One says it will commit ‘meaningful business and engineering resources’ and work closely with each of the winning teams/routes to determine their commercial viability.
The amount invested by Virgin has not been disclosed, but Hyperloop One said last month that it had closed an $85 million fundraising round. That brings the company's total funding to $245 million.