Billionaire Branson named Virgin Hyperloop One chairman

Virgin Hyperloop One to date has raised $295 million since its founding in 2014, with DP World also taking part in previous rounds.

Current investors Caspian Venture Capital and DP World surely helped Virgin Hyperloop One who was running out of capital and around 300 employees were at risk of losing their jobs if more funding. Definers recently filed a motion to have the, contending that its files show no evidence to any work related to the investor.

The Hyperloop train technology, an invention of billionaire Elon Musk, makes it possible to produce trains with the highest speed for a contemporary mode of ground transport.

Seattle-based Pacific Hyperloop has been working with Hyperloop One as well as regional experts to try to gain support for a Seattle-to-Portland hyperloop project. USA Today reported Monday that Shervin Pishevar, a co-founder, resigned after five women accused him of sexual harassment.

"This investment provides Virgin Hyperloop One with a very robust financial platform for 2018 ahead of our Series C round of fundraising". The company's other backers include Sherpa Capital, 137 Ventures, Formation 8, SNCF, GE Ventures, Zhen Fund, Fast Digital and OurCrowd.com.

"The tests were conducted in a tube depressurized down to the equivalent air pressure experienced at 200,000 feet above sea level".

Phase 3 tested the prototype pod's electric motor, control system and magnetic levitation system, as well as the tunnel's vacuum system and air lock.

Kelly Sullivan | Getty Images
Kelly Sullivan | Getty Images

Virgin Hyperloop One has also named Richard Branson its non-executive chairman and raised an addition $50 million Dollars ahead of its Series C round of funding with investments from Caspian Venture Capital and DP World.

Ultra-low drag allows the pod to "glide at airline speeds for long distances", the company said.

Hyperloop One has projects underway in the UAE, US, Canada, Finland, the Netherlands, and India.

In October, the company added the Virgin brand to its name and announced that Branson was joining in as an investor and board member.

Hyperloop intends to use these new funds, given by existing backers Caspian Venture Capital and DP World, to set itself up in new markets in Europe, the Middle East and Russian Federation.

Branson was quoted as saying he was "excited by the latest developments at Virgin Hyperloop One and delighted to be its new chairman". Musk has suggested a hyperloop system - with passenger-carrying pods zipping through vacuum tubes - could ultimately travel at speeds as high as 700 miles per hour, cutting the commute between Los Angeles and San Francisco to about 30 minutes.

"Neither Definers or I have played any role in any campaign involving Mr. Pishevar", Rhoades said, in a legal declaration.

New York Jets given latest tardiness benching, Jets must cut Mo Wilkerson
Coach Todd Bowles says Wilkerson will not travel with the team. "I'm not anxious about Mo right now", he said. A day after Wilkerson was benched against Kansas City, Bowles defended the defensive lineman's leadership.

Flights between Russian Federation and Egypt to resume in February:…
Russia's ban has crippled Egypt's ailing tourism industry, a main source of national income. The aviation officials say they expect Russian flights to resume by early 2018.

Volunteers needed to help lay wreaths at Arlington Cemetery
The organization's goal of covering Arlington National Cemetery was met in 2014 with the placement of 226,525 wreaths. The community is invited to attend this event at the corner of Route 7 and Sharp Hill Road.

(Copyright © 2015. All Rights Reserved.)
 
Recommended

Prince Harry Interviews Barack Obama In New Kensington Palace Video
Britain's Prince Harry spoke with former President Obama in wide-ranging a BBC Radio 4 interview set to be released later this month.

Enrique Iglesias and His Partner Anna Kournikova Welcomes Twins
Last year Anna sparked speculation when she began sporting a large diamond ring and matching eternity band on her wedding finger. There are rumors they're married, but we've never gotten official word from the couple.

Harry Potter: Hogwarts Mystery is an RPG coming to Android in 2018
It's not clear what the time frame on the game will be, although playing in a post-Deathly Hallows Hogwarts could be interesting. When it is released next year, Hogwarts Mystery will be available via the Apple App Store, Google Play and Amazon Appstore.

Pandora lets free users trial its on-demand music streaming
Pandora is doing just that by giving users of their free service access to the Premium service for a certain period of time. But the company has a somewhat intriguing strategy to give those free users a taste of premium.

Richardson selling Panthers, gives up day-to-day operations
Tina Becker has been named Chief Operating Officer, with full control of the day-to-day management of the Panthers. I will immediately address the Colin Kaepernick situation and put him in the running for starting quarterback.

Rudy Gobert Knee Injury Reportedly Diagnosed as Sprained PCL; Out 1 Month
Gobert had an MRI on Saturday that revealed a sprained posterior cruciate ligament and a bone bruise. This is the second injury that will sideline Gobert for an extended period of time.

'The Office' Revival at NBC Featuring Old, New Cast - 2018-19 Season
Reports indicate that The Office could return as soon as 2018 , and the show's fans are pretty excited about it. It followed the everyday lives of employees of the Dunder Mifflin Paper Company in Scranton Pennsylvania.

Influenza now "prevalent" in New York State, state health commissioner says
An increasing trend in flu-related hospitalizations playing out early in the 2017-18 flu season is being seen in Fairfield County. Studies of pregnant women who get the flu shot have also shown it can reduce their newborns' risk of catching the flu by half.

Al Jazira v Real Madrid 13 December 2017
Al Jazira took a shock lead during the clash, with the victor looking to book a place in the final against Gremio. Zidane said: 'It took about three or four minutes to reach a decision and it's not a pleasant experience.

DHS and President Trump Confirm ISIS NYC Terrorist Benefitted From Chain Migration
The fact remains that both of these terrorists entered the country using a deeply flawed visa lottery program and chain migration. The visa lottery program is used to select people in high threat countries for immigration to the United States.

Facebook to start paying tax locally, instead of through Ireland
He described the move as a "large undertaking" that will require significant resources to implement around the world. This moves comes after significant pressure and scrutiny from the U.S. and Europe for its tax practices.

Emergency call from inside derailed Amtrak train
The bypass is a $181 million project created to make train travel through the region safer, quicker, and more reliable. Karnes said that people had escaped the wreckage by kicking out windows. "We got off after shooting the video ".

Islanders beat soccer club in Belmont Park shootout
The Islanders' gain comes at the expense of New York City FC, which just completed their third season sharing Yankee Stadium. A news conference is scheduled for Wednesday morning at the racetrack in which Gov.

3 killed in Indonesia quake
The tremor was felt across the island including in the capital Jakarta , some 300 kilometres (190 miles) from the epicentre. The impact was so strong that resident living nearly 300 kilometres away, in the capital Jakarta , felt it too.

Forbes reveals OEM using Synaptics' in-display sensor
REUTERS/Fabrizio BenschA person uses a sensor for biometric identification on a smartphone in Berlin, Germany October 16, 2015. Vivo might not be a known name in Western countries but it has emerged as a top-notch brand with quality phones in Asia.


More News

News
More News