I’m now over a month into my role as CEO of Hyperloop Technologies Inc., and I’m pleased to provide a business update today which is one of many exciting developments in the months to come.
Hyperloop Technologies has closed a $26 million convertible note financing as part of our aggregate $80 million Series B funding. We now feel confident that we will close the full Series B round before the end of the year.
In the upcoming Series B, we are thrilled to have added Khosla Ventures and others to our distinguished investor base. All of our Series A investors – Formation8, Sherpa Capital, Caspian Venture Capital, Zhen Capital and other individual investors – are also participating in the Series B.
Today’s news was announced live on stage at the 2015 Web Summit in Dublin, Ireland, where our co-founders Shervin Pishevar and Brogan BamBrogan and I have been busy all week. The excitement around our vision and execution is palpable.
CEO, Hyperloop Technologies INC.