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Elon Musk's Hyperloop Gets Closer to Reality


Hyperloop Transportation Technologies will be starting construction of test track in a few weeks.  The idea first popularized by entrepreneur and founder of Tesla, Elon Musk is becoming a reality.

At the Web Summit conference in Dublin, CEO Rob Lloyd announced $26 million in new funding led by Khosla Ventures, the venture firm founded by legendary Silicon Valley investor and former Sun Microsystems co-founder Vinod Khosla. Other investors in the round include Formation8 and Sherpa Capital.

This investment is part of a larger $80 million Series B round, the rest of which the company expects to raise by the end of 2016. Hyperloop had previously raised $8.5 million.


This funding brings the company one step closer to making high-speed travel real, but the company still has more money to raise. The estimated cost of constructing the full Hyperloop, which would stretch 400 miles between San Francisco and Los Angeles? $8 billion.

According to Bibop Gabriele Gresta, chief operating officer of Hyperloop Transportation Technologies, the test track will cover a five-mile stretch in Quay Valley in California. It’s expected to take 32 months to complete and cost roughly $150 million.

When completed, Gresta says it will be able to transport 10 million passengers during the testing process. He told Dezeen “it is the closest thing to teletransportation… it will completely change humanity.”



Elon Musk's Hyperloop Gets Closer to Reality Reviewed by Brandon Oh on 8:56 PM Rating: 5

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