Skip to main content

Hyperloop Transportation Technologies

See All Stories

Hyperloop startup announces $30 million investment, claims total raised over $100 million based on some unconventional math

hyperloop-transportation

While Hyperloop One, the main startup developing hyperloop technologies and deployment projects, is moving full steam ahead with its test track in Nevada and several full-scale projects around the world, another startup called Hyperloop Transportation Technologies, Inc. (HTT) is also trying to carve itself a place in the space.

Hyperloop One has been taken more seriously than HTT since it has been backed with more money from serious investors, but today the company announced that Hyperloop One is not the only hyperloop company capable of raising capital and confirmed a $30 million round of investment and a $100 million total investment to date, but that’s based on some unconventional math to say the least.

Expand
Expanding
Close

A rivalry is born out of the race to create the first Hyperloop

full scale hyperloop one 1

The picture above is an actual section of the first full-scale hyperloop test track currently taking shape in North Las Vegas. The 3 km full-scale and full speed enclosed prototype with a low-pressure environment will be used as a test track for Hyperloop One’s technology.

The company announced that it raised over $100 million – enough to build the track – and it hopes to bring the first commercial version to market by 2021. While generally regarded as the frontrunner to build the first hyperloop, Hyperloop One is not the only company developing the new mode of transportation envisioned by Tesla and SpaceX CEO Elon Musk.

Expand
Expanding
Close

HTT and Slovakian government are exploring a Hyperloop route between Budapest, Vienna and Bratislava

HTT pod

Hyperloop Transportation Technologies (HTT), not to be confused with Hyperloop Technologies (HT), announced today that the company has reached an agreement with the Slovakian government to explore potential routes for a hyperloop which could connect to Austria and Hungary.

HTT’s hyperloop concept is based on Elon Musk’s idea to create a new mode of transport in a reduced-pressure environment, taking the form of a tube, in which it will be easier to transport people or cargo in “pods” at high-speed and efficiency. In HTT’s case, it could as fast as 760 mph. 

Expand
Expanding
Close