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Hyperloop One, the futuristic transportation company, is reportedly shutting down, facing financial struggles, laying off most employees, and seeking to sell assets
Once a high-profile startup, Hyperloop One raised more than $450 million since its founding in 2014, according to PitchBook.
The company had captured the public’s imagination since its founding in 2014, a year after Elon Musk released a white paper outlining a vision for hyperloop technology. The concept was a tantalizing promise of a new kind of transportation technology — and an end to traffic.
(Bloomberg) -- Hyperloop One, the futuristic transportation company building tube-encased lines to zip passengers and freight from city to city at airplane-like speeds, is shutting down, according to people familiar with the situation.Most Read from BloombergIran Sends Warship to Red Sea After US Sinks Houthi BoatsQuake Hits Northwestern Japan, Killing Four, Wrecking HomesIndia’s Crude Oil Imports From Russia Plunge on Payment IssuesUS Pushed Dutch Maker of Chip Equipment to Block Chinese Sales
A mural based on blending astronomy and tropical flowers designed by art student Cyan Garma now spans across the street-facing wall inside IfA’s courtyard.