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Swisspod announce new €7M funding round for hyperloop transport

Swisspod Technologies, a startup founded by Romanian Denis Tudor and Cyril Dénéréaz, announced a new round of EUR 200,000 on SeedBlink as part of a total funding round of EUR 7 million. The funds will be used to advance the development of hyperloop, a revolutionary high-speed transportation system that will change the future of passenger and freight transport, the company said.

Founded in 2019, Swisspod emerged from a conversation between its founders and Elon Musk, the co-founder and CEO of SpaceX. The transport system, which can reach speeds similar to the one of sound (1,200 km/h), has also caught the interest of entrepreneur Richard Branson.

Investors and business angels can participate in the funding round through SeedBlink, starting with a minimum investment of EUR 2,500. The fundraising round has attracted co-investments from players such as Charlie Holding, Polysys Industries, and an exclusive circle of business angels.

Hyperloop is a revolutionary intra-continental passenger and cargo transportation system consisting of an autonomous, fully-electric capsule traveling at near-sonic speeds (1,200 km/h) in a low-pressure environment, with almost no air resistance. 

Swisspod says that this system will significantly cut travel times between cities and countries and “will be more sustainable than any current mode of mass transportation, as its direct carbon emissions can be driven down to near zero through magnetic levitation and electric motors for propulsion.”

The startup is currently focusing on developing a hyperloop solution for freight transportation as a pivotal step towards its ultimate goal of making this system accessible for passengers.

Within this project, the company has achieved significant milestones over the years, including the construction of Europe’s first hyperloop testing infrastructure in Switzerland. 

Moreover, it 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.

“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.

Swisspod is a Swiss-American transportation technology company founded in 2019 by Denis Tudor, CEO, and Cyril Dénéréaz, CTO, two multiple-award winners of the SpaceX Hyperloop Competition. It aims to change the way people travel by connecting every major city using sustainable, carbon-neutral, energy-efficient, and high-speed transportation solutions.