The test, which lasted just a few seconds, was the first demonstration of the much-hyped transportation technology.
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Along with the exciting news of the renaming and test driving, the company added that it has successfully raised an $80 million Series B fund which included new as well as old investors.
There, company leaders consisting of CEO Rob Lloyd, Executive Chairman and Co-Founder Shervin Pishevar and CTO Brogan BamBrogan (yes, that’s actually his real name) showed the track and sled for the first time.
Proponents say the futuristic technology could ferry passengers or cargo at hundreds of miles an hour, covering the distance between San Francisco and Los Angeles in about half an hour, whereas it would normally take about six hours by auto.
The test, although brief, makes for an exciting proof of concept.
“I would really like to note that all of that happened on objective!” said a giddy Brogan BamBrogan, Hyperloop One’s cofounder, after the test was over.
Hyperloop One testing its system in North Las Vegas.
Three years after Elon Musk came up his idea of Hyperloop transportation, engineers demoed the futuristic transportation system today.
“We know the world is watching and their eyes are on North Las Vegas and we’re very proud to be here”, said Lloyd. But within that short duration, the sled reached speeds of 116 miles an hour only to be stopped by a sandtrap. It would be capable of zipping from places like Los Angeles to San Francisco in half an hour, something that would take six hours in a vehicle.
Either way, the Wright Brothers analogy isn’t a stretch-if successful, Hyperloop One’s rail could revolutionize travel. Tubing for the sled and tracks, which will ultimately allow for a vacuum through which the sled can travel, was absent from the test – although even in open-air the sled could still hit 300 miles per hour.
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The company also announced the closing of an Dollars 80 million Series B Financing with ongoing investments from Series A investors Sherpa Ventures, EightVC, ZhenFund and Caspian Venture Partners. It was run to prove Hyperloop One’s propulsion system, which relies on a linear synchronous motor on the track to create an electro-magnetic field that interacts with a set of permanent magnets on the sled.
