Hyperloop One raises $50 million and hires former Uber CFO as an advisor

October 18, 2016 by  
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In another round of successful financing, futuristic transportation startup Hyperloop One has tacked on an extra $50 million to its grand investment total of $160 million. Not only are they quickly raising funds – the firm also hired Brent Callinicos, former Uber Chief Financial Officer, to advise their CEO with how to move forward. https://www.youtube.com/watch?v=s49_ekUA2eg The company seems to be moving along almost as quickly as their vehicles are projected to travel. Two months ago the first Hyperloop One factory opened in Las Vegas, Nevada, and the startup still expects to have a full-scale demonstration ready to go by the first quarter of 2017. The latest round of financing, lead by the world’s third largest port operator DP World Group of Dubai , will be helpful. Greentech Media reports many groups are interested in utilizing Hyperloop One for shipping goods, with passengers to follow later. Related: Hyperloop One hits 116 mph in 1.1 seconds on first public test run CEO of Hyperloop One, Ron Lloyd, told The Verge that he is grateful for the addition of Callinicos to the team. He said, “We hope he can help us do the same things he helped Uber do in those early days.” Callinicos will serve as a “full-time strategic advisor to the CEO and board of directors,” according to Clean Technica . Callinicos brings expertise from the rise of Uber, as well as plenty of know-how from notable positions at Microsoft and Google. + Hyperloop One Via Clean Technica Images via Hyperloop One

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Hyperloop One raises $50 million and hires former Uber CFO as an advisor

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