Virgin Hyperloop One names Richard Branson as Chairman

By Pouyan Broukhim

Virgin Hyperloop One has announced the appointment of Richard Branson, the Founder of the Virgin Group, as its new Chairman.

Previously, Hyperloop One both announced that it would rebrand to Virgin Hyperloop One and appoint Richard Branson to its Board of Directors following an undisclosed investment from the billionaire back in October.

See also:

“I am excited by the latest developments at Virgin Hyperloop One and delighted to be its new Chairman,” said Richard Branson, Founder of the Virgin Group and now Chairman of Virgin Hyperloop One.

Additionally, Virgin Hyperloop One also revealed that it has secured a further $50mn in funding from Caspian Venture Capital and DP World, bringing the total financing raised by the company to $295mn since its founding in 2014.

“This investment provides Virgin Hyperloop One with a very robust financial platform for 2018 ahead of our Series C round of fundraising. We are so proud to have investors who consistently step-up to support our company and our vision,” said Virgin Hyperloop One’s CEO Rob Lloyd.

“We continue to see extremely strong interest from world leaders globally looking to embrace hyperloop to address critical infrastructure challenges. Our focus in 2018 will be on accelerating commercial agreements for both passenger and cargo projects.”

The announcements come at the same time as the futuristic transport technology setting a new record, having achieved speeds of 387km/h.

Share

Featured Articles

Top 10 cybersecurity specialists in the US

As cyber attacks grow in frequency and become increasingly sophisticated, Business Chief looks at the top 10 cybersecurity specialists in the US.

Silicon Valley Bank collapse: How did we get here?

US authorities have stepped in to protect all Silicon Valley Bank customers following the second-largest bank failure in the country's history

Top 10 best new leadership books by women to read in 2023

To mark IWD, here’s our pick of the best new leadership books – all penned by impressive women at the forefront of the ever-evolving world of work

Eight of the best business leadership podcasts

Leadership & Strategy

CEO John Pagano, leading Saudi Arabia's Red Sea Global

Leadership & Strategy

Top 10 female CEOs according to Fortune’s Global 500 list

Leadership & Strategy