Swisspod announces oversubscribed seed round

This financing round is backed by both new and existing investors, but the size of the investment remains undisclosed. Among the new companies backing the oversubscribed round are Polysys Industries, a privately held company based in UAE, active in investing and developing technology startups, and Seldor Capital, an NYC-based Venture Capital firm investing in startups operating in the Space Technology industry.

With a massive potential to redefine the way our world is connected, Swisspod is addressing the global demand for high-speed travel by envisioning a continental map that links every major city using carbon-neutral, energy-efficient, and high-speed transportation solutions. Through the system developed by Swisspod, an initial route between New York and Washington would cut down travelling time to just 22 minutes, instead of the current 3 hours, and travelling from Geneva to Zurich would only take 17 minutes, as compared to the usual 2.5 hours.

The new operating capital raised will be invested in the development of Swisspod's full-scale Hyperloop testing facility in Colorado, USA. In parallel, it will allow for performing experiments and validating the company's innovative patents for a novel electric propulsion system that will enable a cost-efficient Hyperloop infrastructure and increased energy efficiency at high speeds.

Swisspod has gained the attention of industry leaders worldwide through its trailblazing work for developing a technology platform for Hyperloop systems. The company’s tangible breakthroughs towards enabling ultra-high-speed transportation, such as the first benchmarking test facility in the world for developing a Hyperloop system, actively contributed to engaging a strong interest from investors around the globe.