Richard Branson-backed Hyperloop One is shutting down
Shortpedia
Content Team
Image Credit: financial post
Hyperloop One, a start-up once supported by Richard Branson's Virgin Group, is set to close its doors on December 31, Bloomberg reports. Established in 2014, the company aimed to create high-speed transportation systems for cargo and passengers using vacuum-sealed tubes. Despite raising and spending vast amounts of money, Hyperloop One faced numerous obstacles and never secured a contract to build a functioning hyperloop system.
