Hyperloop One, a three-year-old, L.A.-based company working to create near-supersonic trains that can whisk both passengers and cargo in giant pneumatic tubes at speeds of many hundreds of miles per hour, has raised $85 million in fresh funding, as first reported in Recode.
The round, which comes from DP World, Caspian VC Partners, WTI and OurCrowd.com, brings the company’s total funding to $245 million.
It’s a lot of money for what still seems like a pipe dream, no pun intended. As the Verge noted in its own report on the new round, Hyperloop One still has “no commercial product, no revenue stream, no government approval, and no proof that its ultrafast transit system would even be safe for human passengers.”
Image: https://techcrunch.com
