Richard Branson wants to play a role in the future of transportation, so he's investing in Hyperloop One. This investment is large enough that Virgin Group is now going to help the transportation company go global and it'll be rebranded as Virgin Hyperloop One.
Branson, a billionaire, is also joining the company's board of directors. The actual size of the investment hasn't been disclosed.
Hyperloop One is one of the largest companies working on Hyperloop-based transportation systems. The technology itself was originally proposed by Tesla's Elon Musk.
Prior to this investment, Hyperloop One had raised around $245 million.
Virgin Hyperloop One will be all-electric and the team is working on ensuing it is a responsible and sustainable form of transport,- Virgin Group
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