This investment round was backed by German fund Freigeist Capital, multiple Dutch and Belgian investors, and one of the first engineers of Uber, plus several existing investors. Hardt Hyperloop has raised more than €10m to date.

Earlier this year, Hardt Hyperloop demonstrated Europe’s first hyperloop test facility. The investment will be used to build a 3km test facility to prove hyperloop technologies at high speed.

“In this facility we will prove hyperloop technologies at speeds of more than 700km/h,” says Hardt Hyperloop’s CTO, Mr Sascha Lamme. “We will also be able to expand our team with more talented people, acquiring investors in future investment rounds, and partnering up with additional companies who will get to join our existing partners.”

Elon Musk

Hardt Hyperloop was launched in February 2017 by four former TU Delft technical university students, who won the first editon of Elon Musk’s hyperloop competition.

Hardt Hyperloop’s partners include Netherlands Railways (NS), German Rail (DB), TU Delft, Tata Steel, Continental, and BAM.