After years of failure, The Boring Company claims that they will finally test the Hyperloop later this year.
First proposed in 2013 by Elon Musk, Hyperloop is a high-speed transportation system for both public and goods transport. It will move people across long distances in autonomous capsules or pods with speeds up to 760 miles per hour. However, Musk never took on the project and instead shared the initial engineering plans and ideas and challenged others to develop the concept.
Elon Musk stated in a tweet, “In the coming years, Boring Co will attempt to build a working Hyperloop. From a known physics standpoint, this is the fastest possible way of getting from one city center to another for distances less than ~2000 miles. Starship is faster for longer journeys.”
Musk also claims that the Hyperloop will be immune to bad weather conditions since it will be built underground: “Underground tunnels are immune to surface weather conditions (subways are a good example), so it wouldn’t matter to Hyperloop if a hurricane were raging on the surface. You wouldn’t even notice.” Responding to another tweet.
Regarding building the Hyperloop project, it is reported that The Boring Company has raised $675 million with its Series C financing and estimates its valuation up to $5.7 billion. Private investors include Vy Capital and Sequoia Capital, with participation from Valor Equity Partners, Founders Fund, 8VC, Craft Ventures, and DFJ Growth.
