Swisspod announce new €7M funding round for hyperloop transport

Hyperloop technology is currently under development, with Swisspod's systems undergoing testing in Switzerland and India.
Swisspod announce new €7M funding round for hyperloop transport

Swiss-American startup Swisspod Technologies, backed by Richard Branson, have announced a new fundraising round which they hope to close at €7M, having raised €200K already.

Swisspod are aiming to commercialise Hyperloop technology for cargo and freight transport. Hyperloop is an intra-continental passenger and cargo transportation system consisting of an autonomous, fully-electric capsule traveling at near-sonic speeds (1200 km/h) in a low-pressure environment, with almost no air resistance.

Swisspod has achieved significant milestones over the years, including the construction of Europe's first hyperloop testing infrastructure in Switzerland.

The company has expanded its research and development efforts in Colorado, USA, and, through a partnership with TuTr Hyperloop, is working on developing and deploying this cutting-edge technology in India, backed by an agreement between the governments of Switzerland and India. In addition, Swisspod's role in the European Muspell project, which has received €3.5 million in funding from the European Innovation Council (EIC) and the Swiss State Secretariat for Education, Research and Innovation (SERI), underlines its commitment to addressing the thermal management challenges associated with hyperloop systems.

"The hyperloop solution we are building at Swisspod is not only incredibly fast and sustainable, but also economically viable as we substantially cut the infrastructure costs. We're thrilled to share our vision for the evolution of transportation with the Romanian community of investors who, like us, value innovation and sustainability, and are contributing to shaping a thriving future," said Denis Tudor, CEO and co-founder of Swisspod.

"SeedBlink is more than just a fundraising platform, we are a growth environment for transformative projects like Swisspod's hyperloop. Our platform provides a complex ecosystem for innovation, growth and success, and we're happy to team up with Denis and his team again. The opportunity to invest in Swisspod is more than an investment in the company's revolutionary technology; it's a commitment to shaping the future of global connectivity and sustainability," added Eric Bartha, Head of Revenue at SeedBlink.

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