Jumpstartfund's Hyperloop Transportation Technologies Inc. (HTT) announced investments by EdgeWater Investments totalling $30 million. This investment is in addition to previous investments including several million from individual team members and numerous other in-kind contributions.
To date, HTT has secured $31.8 million total in cash investments, $26 million in man-hours and services, and land rights that are valued at more than $22 million. An additional $29 million of commitments and in-kind investment have also been confirmed by several companies that have joined the team. These companies are: Carbures Europe SA, the leading composite manufacturer and supplier for airplane manufacturers worldwide; Atkins, one of the world's most respected design, engineering and project management consultancies, responsible for projects like the Dubai Metro as well as the Burj Al Arab in the UAE; Anomaly Communications LLC, the leading brand and marketing firm; Reflekt GMBH, Europe's leading AR and VR company, involved in the development of HTT's augmented windows; and Leybold GmbH, the inventor of the industrial vacuum pump and part of Atlas Copco group.
HTT is one of the first growth companies to globally crowdsource the launch and development of its business and products. To date, more than 603 individuals including more than 200 professionals from 44 companies in 38 countries have contributed time and resources to developing HTT's technology, sales, engineering, design and implementation. Some of the companies contributing services include Catalyst, one of Austria's most innovative software developer, and PriestmanGoode, the world's leading travel and transport design consultancy. Most of these contributors are working in exchange for stock options of the company.
"Hyperloop Transportation Technologies is more than a company, it is a movement," said HTT CEO Dirk Ahlborn. "We have many people who followed their passion and joined the company at the beginning, working for equity making the company worth of millions."
"We are on track with our progress to date. We plotted a course and maintained it. The equity funding and in-kind investment from these respected industry leaders is validation of our model, and prepares us for our next steps," said HTT Chairman Bibop Gresta.
"Hyperloop Transportation Technologies model is unique," said Joel Ornstein, chairman of EdgeWater Investments Europe. "The company has tremendous momentum, is building a strong value for investors while being smart in utilizing cash normally necessary in these kind of projects."
"Carbures is a leading expert in composite fuselages, and the HTT system is taking advantage of existing technologies we have developed" said Carbures Chairman and Cofounder Rafael Contreras.
"Collaborating with entrepreneurial companies like HTT is essentially the reason why Anomaly exists today. Working with them to create a cutting-edge brand and vision for the future of transportation has been immensely exciting for us," said Aisea Laungaue, anomaly partner & chief strategy officer.
"As a close collaborator with HTT on the infrastructure design for Hyperloop, Atkins ambition is to help transform people's journeys whilst increasing the efficiency and sustainability of transport systems and cities worldwide," said Julian Hill regional managing director, rail, Atkins Middle East and Africa.
"We have been working closely with HTT for more than a year optimizing a variety of tasks and challenges surrounding the entire Hyperloop project. In doing so, we have been able to identify a variety of synergies between our companies which has strengthened our business relationship. For us, the investment is a clear sign to further improve our cooperation and development in the constantly evolving transport-tech environment," says Kerim Ispir, COO of RE'FLEKT.
"We are proud to be a part of this exciting and groundbreaking collaboration. As the pioneer of vacuum technology, this is a very special obligation for us," said Carl Brockmeyer, head of business development for Leybold. "We are delivering extensive expertise in designing and building advanced vacuum systems to create and maintain the partial vacuum that is needed to make the Hyperloop reality. A key focus of our work is to ensure the internal air pressure maintenance is both safe and cost effective."
