Hyperloop is a concept for an ultra-high-speed ground transportation system, providing incredibly reduced travel times over medium-long distances and 100% electric operations. This mode of transportation is touted to have the potential of being a sustainable transportation solution in the near future. In a Hyperloop system, capsules or pods are placed in a partially evacuated tube and are accelerated to speeds found in aviation.
Initially, the hyperloop technology came into existence almost ten years since Elon Musk brought the concept to modern public consciousness in 2013. His company, Space X sponsored The Hyperloop Pod Competition, which spawned many ideas for the hyperloop technology in development. Some teams are scaling to become fully functional startups with funding from investors.
Despite these developments, there is yet to be a commercially available hyperloop and many companies are in the stealth mode. While we expect to see the hyperloop technology offered to the common people some years from now, here we at TFN have listed the hyperloop startups worldwide that are in the race.
HyperloopTT (US)
Founder/s: Dirk Ahlborn, Bibop Gresta
Founded year: 2013
Total funding: NA
US-based Hyperloop Transportation Technologies (HyperloopTT) is an innovative transportation and technology company focused on realising the Hyperloop. The company has developed Quintero One, the world’s first full-scale passenger capsule with a length of 32 metres. In July, the company revealed HyperPort, a plug-and-play solution for port operators to increase capacity and efficiency while decreasing pollution and congestion.
Virgin Hyperloop (US)
Founder/s: Brogan BamBrogan, Josh Giegel, Shervin Pishevar
Founded year: 2014
Total funding: NA
Virgin Hyperloop (formerly Hyperloop One) is a transportation tech company based in Los Angeles. It works to commercialise the high-speed Hyperloop concept. In 2020, Virgin Hyperloop successfully launched a two-seat prototype. The hyperloop commuted 500 metres, reaching 172 kilometres per hour within 6.25 seconds. The company is in plans to launch routes in Dubai, India, the US, North Carolina, and Texas. This hyperloop company has
DP World Cargospeed (UAE)
CEO: Sultan Ahmed Bin Sulayem
Founded year: 2005
Total funding: NA
In 2018, Virgin Hyperloop and DP World joined forces to create DP World Cargospeed systems. It focuses on carrying high-priority, time-sensitive goods, including medical supplies and electronics. The company plans to deliver within Virgin Hyperloop’s planned routes. It is touted to allow goods to be delivered anywhere in the world in 48 hours.
Hardt Hyperloop (The Netherlands)
Founder/s: Marinus Van Der Meijs, Mars Geuze, Sascha Lamme, Tim Houter
Founded year: 2016
Total funding: $35.1M
Dutch hyperloop company, Hardt Hyperloop, develops a transport system that travels across huge distances completely emission-free, safe, and accessible to everyone. It has emerged as one of the companies among the winning team at the SpaceX Hyperloop Competition, which was launched by Elon Musk dedicated to realising the hyperloop.
In October 2021, the Delft-based startup received €15 million ($17.4 million) from the European Commission to realise a superfast transportation system.
Nevomo (Poland)
Founder/s: Katarzyna Foljanty, Paweł Radziszewski, Przemek Paczek, Łukasz Mielczarek
Founded year: 2015
Total funding: $6.2M
Another European Hyperloop company is Nevomo, which is headquartered in Warsaw, Poland. Formerly known as Hyper Poland, the company uses hyperloop-driven technology to improve the efficiency of existing railways. Its unique approach will enable quick and gradual implementation of transport systems inspired by the hyperloop concept, starting with the use of existing corridor routes. By adapting the existing railway infrastructure, the company aims to enable travel with a speed of up to 550 kph.
This will be possible thanks to the development of MagRail technology, a magnetic railway system that makes use of existing railway tracks. Both traditional trains and MagRail vehicles can operate on the same railway line interchangeably. Nevomo is the first company in the world proposing a gradual implementation of hyperloop-driven solutions as an upgrade to the railway industry.
In June 2021, the Poland transportation tech company raised €1.22 million through its equity crowdfunding campaign on Seedrs.
DGWHyperloop (India)
Founder/s: Nipun Khare, Vivek Tiwari
Founded year: 2016
Total funding: NA
Formerly known as Hyperloop India, this startup, DGWHyperloop (after acquisition by Dinclix GroundWorks), develops the future of high-speed transportation. It is touted to travel at 1000 km/h without causing any carbon emissions and being fully electric. Back in 2019, DGWHyperloop introduced GARUDA-1, India’s first full-fledged cargo delivery Hyperloop system.
Transpod (Canada)
Founder/s: Ryan Janzen, Sebastien Gendron
Founded year: 2015
Total funding: $17.6M
Canadian hyperloop developer TransPod is developing its cutting-edge design for a mass transportation system to reach velocities faster than air travel. It eliminates the need for jet fuel, and gives passengers low-priced, frequent, and high-speed transportation service. TransPod’s vehicle and infrastructure are being designed together for optimal performance, using TransPod’s IP and is are powered by environmentally-sustainable solar/electric energy.
Last month, TransPod raised $550 million funding for its multibillion-dollar project to build an ultra-fast vacuum tube link between the Albertan cities of Calgary and Edmonton. The finances came from UK project finance group Broughton Capital and Chinese state-owned industrial trading company China-East Resources Import & Export.
Zeleros (Spain)
Founder/s: Daniel Orient Martí, David Pistoni, Juan Vicen Balaguer
Founded year: 2016
Total funding: $15.6M
Spanish startup Zeleros designs and develops hyperloop technology for more sustainable and energy-efficient transportation. The company is devoted to the design, development, manufacture, and supply of hyperloop vehicles for intercity transportation for passengers and goods, traveling at a ground level and unprecedented speeds with zero direct emissions.
