Hyperloop One has received a significant investment in Hyperloop One – the official figure hasn't been revealed, but it's enough that the Hyperloop tech startup, which aims to create networks of high-speed transportation tunnels to various locales across the globe, has changed its name. Virgin Hyperloop One is the entity's official moniker going forward, which is quite a mouthful.
Virgin Hyperloop One's rebrand will mean it gains from association with Virgin Group founder Richard Branson, whose high-tech transportation exploits include Virgin Galactic and other space-based ventures. The goal of the company under the rebrand remains the same, and it'll continue to explore the best places and partners for deploying its high-speed transportation tech, which will zoom pods at high speed down extremely low pressure tubes to reduce trip times over land from hours to minutes.
The money isn't the only connection between Hyperloop One and Virgin; the Hyperloop company's President of Engineering Josh Giegel is a former Virgin employee. Branson noted in a blog post that he also visited Hyperloop One earlier this summer to view its technology first-hand, at the Hyperloop One DevLoop test track site in Nevada outside Los Vegas.
Recently, Hyperloop One (sorry, Virgin Hyperloop One – that's going to take some getting used to) announced that it had selected a range of finalists for its global competition to identify potential routes, and it has announced a few public-private partnerships to undertake feasibility studies.
Right now it appears that Hyperloop One's business will remain on track with the rebrand, and it's probably a good thing to have a close billionaire friend with a passion for future modes of transport when you're trying to build a brand new type of high-speed ground transit.