Transportation startup Virgin Hyperloop One raises $50 mn
US-based transport technology startup Virgin Hyperloop One has raised $50 million in a funding round led by existing investors Caspian Venture Capital and DP World. It also plans to name Virgin Group Founder Richard Branson as Chairman of the startup. Founded in 2014, the company's technology is based on a high-speed, tube-based transportation system originally released by billionaire Elon Musk.