LOS ANGELES - Virgin Hyperloop One, the only company in the world that has built a full-scale hyperloop system, today announced that it has named Richard Branson Chairman (non-executive), and has raised an additional $50 million ahead of its Series C round of funding with investments from Caspian Venture Capital and DP World. The company has also completed its third phase of testing achieving historic test speeds of 387 kilometers per hour.
Richard Branson, founder of the Virgin Group, will become the Chairman of Virgin Hyperloop One. As the founder of Virgin Group, Branson brings an unparalleled proven track record in delivering technology breakthroughs and transformative experiences in air, rail, and space transportation. Branson joined the Virgin Hyperloop One board of directors in October 2017 after Virgin Group invested in the company and formed a global strategic partnership. The company is in the process of rebranding itself Virgin Hyperloop One.