Virgin Hyperloop Valuation, Funding & Investors
Virgin Hyperloop is not operational anymore. Its last reported valuation was $700M as of September 2017.
Last Virgin Hyperloop valuation
$700M
Series B · Sep 2017
Last Virgin Hyperloop funding round
$172M
Undisclosed stage · May 2019
Cumulative funding Virgin Hyperloop raised
$368M
across 5 funding rounds
Key investors in Virgin Hyperloop
DP World Group
Caspian VC Partners
ZhenFund
OurCrowd
LAUNCH
Eniac Ventures
About Virgin Hyperloop
Virgin Hyperloop, originally Hyperloop One, was a transportation technology company that developed a hyperloop system in which passenger and cargo pods travel through low-pressure tubes at very high speed. It was founded in 2014 by Shervin Pishevar, Brogan BamBrogan and Josh Giegel and was headquartered in Los Angeles. The company built a full-scale test track in the Nevada desert and pursued feasibility studies and partnerships with governments and port operators for passenger and cargo routes. It carried the Virgin name after Virgin Group invested in 2017 and Richard Branson became chairman. DP World later took majority control and shifted the focus to cargo. As a development-stage company it earned little revenue and relied on investor funding. It ceased operations at the end of 2023.
Founded
2014
HQ
Los Angeles, CAWebsite
Status
Closed
Customer focus
B2B & B2G
Revenue model
Services, Licensing, Subscription
Valuation
$700M (Sep 2017)
Virgin Hyperloop Valuation
Virgin Hyperloop is insolvent and not operational anymore. Read the announcement ↗
Virgin Hyperloop was last valued at $700M, based on its Series B in September 2017. Read the announcement ↗
The $85M round included Caspian VC Partners, Jaws Ventures, Kaspar Ventures, LLC, DP World Group, SharesPost Investment Management and 1 other investor.
Virgin Hyperloop valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Dec 2023 | Write-down · Insolvency | $0 |
| Sep 2017 | Series B | $700M |
Virgin Hyperloop Funding History
Before winding down, Virgin Hyperloop has raised a total of $368M across 5 funding rounds.
Virgin Hyperloop's first fundraising round was a $11M Series A in February 2015. The most recent completed round was a $172M undisclosed-stage round in May 2019.
Virgin Hyperloop funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| May 2019 | Undisclosed stage | DP World Group | $172M | - | Virgin Hyperloop One is a transportation technology company founded in 2014 by Shervin Pishevar, Brogan BamBrogan, and Josh Giegel that aims to commercialize hyperloop technology for mass transit infrastructure. The company has developed an operational hyperloop system and is advancing feasibility studies across multiple regions in the United States, with initial focus on a hyperloop route between Mumbai and Pune, India designed to transport 150 million passengers annually and be operational by 2028. In May 2019, Virgin Hyperloop One closed a Series C funding round that raised $172.23 million, with a post-money valuation of $322.98 million. This round was co-led by DP World, a global port operator, which committed $52.5 million with an option to invest an additional $52.5 million upon achievement of certain milestones, alongside investors including Caspian VC Partners, OurCrowd, and Western Technology Investment. The company raised approximately $368.4 million across 10 funding rounds by early 2021, bringing total disclosed funding to over $462 million. Virgin Hyperloop has established partnerships with leading aerostructures suppliers and steel producers while pursuing validation of its production-ready system for both passenger and freight transport. |
| Dec 2017 | Undisclosed stage | Caspian VC Partners (lead); DP World Group (lead) | $50M | - | Virgin Hyperloop One (later rebranded as Virgin Hyperloop), a Los Angeles-based company founded in 2014, develops hyperloop technology for super-fast passenger and cargo transportation in low-pressure tubes, inspired by Elon Musk's 2013 concept. The system aims for speeds up to nearly 700 mph, with the company achieving a 240 mph test record at its DevLoop site in Nevada during Phase 3 testing around the funding announcement. On December 18-19, 2017, the company raised $50 million from existing investors Caspian Venture Capital (Russia), DP World (Dubai), ahead of a planned Series C round, bringing total funding since inception to $295 million. This followed an October 2017 $85 million raise that included Virgin Group investment, prompting the rebrand from Hyperloop One. Richard Branson became non-executive chairman, replacing co-chair Shervin Pishevar amid prior internal disputes including a settled lawsuit by co-founder Brogan BamBrogan, who left to start rival Arrivo Corp. The funding provided a lifeline amid cash shortages threatening 300 jobs and supported focus on commercial agreements for passenger and cargo projects, particularly in the Middle East, Europe, and Russia. CEO Rob Lloyd highlighted strong global interest from leaders for infrastructure solutions. The company competed with entities like Elon Musk's Boring Company in the emerging hyperloop space. |
| Sep 2017 | Series B | Caspian VC Partners; Jaws Ventures; Kaspar Ventures, LLC; DP World Group; SharesPost Investment Management; OurCrowd | $85M | $700M | Hyperloop One (later rebranded Virgin Hyperloop One) closed a Series B-1 funding round on September 21, 2017, raising $85 million and bringing total cumulative funding to $245 million since the company's 2014 founding. The round valued the company at $700 million post-money. Investors in this round included DP World, Caspian VC Partners, Western Technology Investment (WTI), OurCrowd.com, and Virgin Group, which announced a strategic partnership and licensed its brand name to the company. Co-founder and Executive Chairman Shervin Pishevar stated the company had initially targeted $50 million but exceeded that target, raising $85 million instead due to strong investor demand. The company positioned itself as the only firm to have built a full-scale operational Hyperloop system at the time, with feasibility studies underway in Dubai, the United Kingdom, Russia, and the United States. As of the September 2017 round, Hyperloop One remained pre-commercial with no revenue stream, no government approval for commercial operation, and no formal commercialization agreements, focusing instead on technology development and path-to-market strategy through public-private partnerships with governments worldwide. |
| Oct 2016 | Undisclosed stage | DP World Group (lead) | $50M | - | Virgin Hyperloop, originally Hyperloop One founded in 2014, develops high-speed transportation technology using vacuum tube systems inspired by Elon Musk's open-source hyperloop concept, aiming for speeds up to 1,200 km/h for passengers and cargo. In October 2016, it raised $50 million in strategic funding led by DP World Group, a major Dubai-based port operator, with participation from others like Caspian Venture Capital, bringing total funding at the time to around $160 million. This was structured as a convertible note ahead of a Series C round, supporting development partnerships including feasibility studies for cargo hyperloop at DP World's Jebel Ali port and alignments with governments in the UAE, Russia, and elsewhere. The investment strengthened ties with potential customers in logistics and ports, adding DP World CEO Sultan Ahmed Bin Sulayem and Summa Group's Ziyavudin Magomedov to the board. It followed an earlier $80 million round in May 2016 from investors including GE Ventures, SNCF, and Khosla Ventures. Later funding like an $85 million Series B-1 in 2017 valued the company at over $700 million, with cumulative raises reaching $245-295 million by late 2017 when it rebranded to Virgin Hyperloop One after Virgin Group investment and Richard Branson becoming chairman. The company progressed testing, achieving 387 km/h in phase three by 2017, and pursued commercial agreements for passenger and cargo projects globally. Total funding grew to $368-485 million across 10 rounds by 2019-2021, with key investors including DP World, Caspian VC, and Virgin. |
| Feb 2015 | Series A | ACME Capital (lead); ZhenFund; Eniac Ventures; Caspian VC Partners; Shervin Pishevar; Palm Drive Capital; Cherubic Ventures; LAUNCH | $11M | - | Hyperloop Technologies, later renamed Virgin Hyperloop, raised its first outside financing in February 2015, a Series A round reported at $8.5 million by Forbes and at $11.1 million in other accounts. The round was led by Shervin Pishevar, whose Sherpa Capital backed the company, and was reported to include Caspian Venture Capital, ZhenFund, Eniac Ventures, ACME Capital, Cherubic Ventures, Palm Drive Capital and LAUNCH. The money was meant to fund engineering and design of a test track, with a larger raise of about $80 million planned for building it. The company was founded in 2014 in Los Angeles to commercialise the high-speed tube transit concept proposed by Elon Musk as the Hyperloop. It develops vacuum-tube transport systems in which passenger and cargo pods travel at very high speed, and it later added Virgin Group and DP World as investors. |
Who has invested in Virgin Hyperloop?
13 investors have backed Virgin Hyperloop across its funding rounds, including DP World Group, Caspian VC Partners, ZhenFund, OurCrowd, LAUNCH and Eniac Ventures.
Lead investors include Caspian VC Partners, DP World Group and ACME Capital.
Virgin Hyperloop Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
 Dubai | 4 | Lead | Oct 2016 | |
 Limassol | 3 | Lead | Feb 2015 | |
 Beijing | 1 | Participant | Feb 2015 | |
| New York City, NY | 1 | Participant | Feb 2015 | |
| Miami, FL | 1 | Participant | Sep 2017 | |
| San Francisco, CA | 1 | Lead | Feb 2015 | |
![](data:image/svg+xml,<svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 20 20"><rect fill="%23e5e7eb" width="20" height="20" rx="4"/></svg>){kind=small} Kaspar Ventures, LLC | United States | 1 | Participant | Sep 2017 |
| San Francisco, CA | 1 | Participant | Feb 2015 | |
| New York City, NY | 1 | Participant | Feb 2015 | |
 Taipei | 1 | Participant | Feb 2015 | |
| San Francisco, CA | 1 | Participant | Sep 2017 | |
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Start Free TrialVirgin Hyperloop Competitors
Virgin Hyperloop competitors included listed companies like CreateAI Holdings, Journeo, Daea Ti and Tracsis, and private ones like Exotoll and Tickey.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
 İstanbul | Private | - | - | $1M | - | |
 Sofia | Private | - | - | $1M | - | |
| United States | Publicly listed | $96K | ($98M) | $35M | - | |
 United Kingdom | Publicly listed | $74M | $9M | $130M | 1.2x | |
 South Korea | Publicly listed | $113M | $20M | $129M | - | |
| United Kingdom | Publicly listed | $110M | $13M | $122M | 0.8x |
Virgin Hyperloop Public Comps
Virgin Hyperloop is defunct now, but its public comps included MingZhu Logistics Holdings, Fr8Tech, Transiro Holding, Nexity Global, Trucknet Enterprise, Papago, Shipwaves Online and Gogox Holdings.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $40M | ($5M) | 0.1x | - | (0.5x) | - | |||
| $13M | ($7M) | 0.4x | - | (0.7x) | - | |||
| $3M | $57K | 0.5x | - | 27.8x | - | |||
| $1K | ($52K) | 7521.2x | - | (76.4x) | - | |||
| - | - | - | - | - | - | |||
| $8M | $347K | 1.1x | - | 25.9x | - | |||
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Common questions about Virgin Hyperloop
| What happened to Virgin Hyperloop? | Virgin Hyperloop is not operational anymore and insolvent as of 21 December 2023. |
| When was Virgin Hyperloop founded? | Virgin Hyperloop was founded in 2014. |
| Where was Virgin Hyperloop headquartered? | Virgin Hyperloop was headquartered in Los Angeles, CA, United States. |
| Was Virgin Hyperloop publicly listed? | No, Virgin Hyperloop was a private, VC-backed company. |
| What was Virgin Hyperloop's valuation? | Virgin Hyperloop was last valued at $700M in its Series B in September 2017. |
| How much did Virgin Hyperloop raise? | Virgin Hyperloop raised $368M across 5 funding rounds. |
| What was Virgin Hyperloop's last funding round? | Virgin Hyperloop's last funding round was a $172M undisclosed-stage round in May 2019. |
| Who were Virgin Hyperloop's investors? | Virgin Hyperloop's investors included DP World Group, Caspian VC Partners, ZhenFund, Eniac Ventures, Jaws Ventures, ACME Capital, Kaspar Ventures, LLC, Shervin Pishevar, Palm Drive Capital, Cherubic Ventures and 3 others. |
| Who were Virgin Hyperloop's competitors? | Virgin Hyperloop's competitors included Exotoll, Tickey, CreateAI Holdings, Journeo, Daea Ti and Tracsis. |
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