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Zeleros, a Spanish hyperloop company, has closed a €7 million funding round

Zeleros, a Spanish hyperloop company, has closed a €7 million funding round led by Altran, a French engineering consulting firm. The company now starts a new phase in the development of its unique version of hyperloop.

Commenting on the announcement, David Pistoni, Chief Executive Officer at Zeleros, said: “For Zeleros it is key to have partners of this relevance and expertise onboard. Their support will accelerate the development of our technologies, unlocking the path towards hyperloop-based routes and corridors in Europe and worldwide.” “These new funds will boost a major milestone of developing and demonstrating our technologies in a real environment of operation, bringing Zeleros closer to a multibillion market opportunity to be captured in the next decades”.

The new form of transportation could carry passenger and cargo at speeds over 1000km/h inside low pressure tube. By reducing friction between the train and the infrastructure means that it could carry people at hypersonic speeds while also being very energy efficient.

Studies have found that the Hyperloop could reduce commuting times from Amsterdam to Paris, Brussels, Düsseldorf or Frankfurt from “hours to minutes”, making it one of the most efficient forms of transportations.

Zeleros believes that the Hyperloop will lead to a decarbonised long-distance transportation system and increase economic growth as more people can move between cities with ease.