Hyperloop Tech announced today the closing of $26 million in convertible note financing, which is part of a $80 million Series B round the company is trying to close by the end of year. Recently appointed CEO Rob Lloyd made the announcement with co-founders Brogan BamBrogan and Shervin Pishevar at the 2015 Web Summit in Dublin earlier today. Pishevar contributed to the Series B financing round through his Sherpa Capital fund along with every other investors from the Series A: Formation8, Caspian Venture Capital, Zhen Capital and other individual investors.
With the second round of financing, the company added Khosla Ventures, Billionaire Vinod Khosla’s fund, to its list of high-profile investors.
Hyperloop tech is a startup located in Los Angeles trying to make a reality of Elon Musk’s vision for a new mode of transport through low-pressure tubes capable of moving pods containing cargo or people at high speeds.
If you want to learn more about Hyperloop Tech, I suggest reading our recent coverage of the company:
- Hyperloop Technologies Inc. gains support from LA Mayor and tries to emulate Elon Musk’s SpaceX
- Hyperloop Technologies hires Cisco veteran Rob Lloyd as CEO [Video]
- New pictures from Hyperloop Technologies show progress on this exciting new mode of transport
- A company is making Elon Musk’s Hyperloop a reality: Hyperloop Technologies, inc.
FTC: We use income earning auto affiliate links. More.
Subscribe to Electrek on YouTube for exclusive videos and subscribe to the podcast.