Virgin Group just invested in Hyperloop One — and Richard Branson now sits on the board

Oct 13, 2017 ·

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Hyperloop One just struck a major deal with Richard Branson's Virgin Group.

Virgin Group announced Thursday that it has invested in Hyperloop One, a startup that's working on constructing the high-speed transit system Elon Musk first outlined in a white paper in 2013. The terms of the deal weren't disclosed, but the investment was significant enough that Hyperloop One will now be called Virgin Hyperloop.

"After visiting Hyperloop One’s test site in Nevada and meeting its leadership team this past summer, I am convinced this groundbreaking technology will change transportation as we know it and dramatically cut journey times," Virgin Group founder Richard Branson said in a press release.

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