yperloop One, the company built on Elon Musk’s vision for fast and efficient freight and passenger transportation, has closed an $85 million investment round. The company’s total funding is now $245 million. That brings the company’s valuation — including this round of financing — to more than $700 million, according to sources.
The funding comes just after Hyperloop One and the Colorado Department of Transportation announced that the two entities were conducting a feasibility study for potential routes for the tunnel-based transportation system within the state. Colorado is just one of 10 potential routes around the world the company is considering. [ Recode ]