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Hyperloop One gets a $50 million boost

Hyperloop One terminal
An artist’s conception shows how a Hyperloop One terminal could be built at a Dubai port facility with subsurface transit tubes. (Credit: DP World / Hyperloop One)

Hyperloop One, an L.A.-based venture that wants to commercialize Elon Musk’s rapid-transit concept, says it has received $50 million in a financing round led by Dubai-based port operator DP World Group.

In a news release, Hyperloop One said the latest round brings its total financing to $160 million.

The announcement serves as another signal that cargo transport is likely to be one of the first applications for Hyperloop One’s near-supersonic, tube-running pods. DP World recently signed an agreement with Hyperloop One to look into building a system that would move containers from Dubai’s Port of Jebel Ali to a new inland depot.

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