Hyperloop One rumored to be raising massive new round
October 26, 2016
Hyperloop One is already in the process of raising a Series C financing that could reach $250 million by early next year, per documents seen by Forbes. The capital would go toward the company's plans to build high-speed transportation networks in a number of locations, the cost of which will likely greatly exceed initial estimates, according to the leaked documents.
A $250 million financing would be substantially larger than any of Hyperloop One's previous rounds, but it reflects the backing likely needed to execute on lofty plans for new infrastructure. The company reportedly plans to launch a hyperloop carrying freight by 2020 and one to transport passengers by 2021—an aggressive timeline for a business that's yet to publicly prove the functionality or feasibility of its technology.