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Toronto company secures $15M in seed funding to make 'hyperloop' transit system a reality (VIDEO)

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Yasmin Aboelsaud Mar 31, 2017 5:52 am 15,775

Sick of the TTC?
Hate the Canadian airlines?
Or perhaps upset about the recent VIA Rail $150 tickets selling out so quickly?

There’s some good transit news on the horizon.

Toronto-based startup TransPod is looking to build the world’s leading hyperloop system “to connect people, cities, and businesses with high-speed transportation that is affordable and environmentally sustainable.”

Founded in 2015, the tech startup closed a seed round of $15 million (US) in investment funding late last year.

TransPod has began using the funds, opening offices in Italy and France, where the company’s operations have expanded “to facilitate advanced research and development with partners and experts, while leveraging the high-technology, engineering, railway, and aerospace talent pool in those regions.”

TransPod

Earlier this year, the Toronto company also established a partnership with IKOS, the leading technology consulting firm specializing in railway engineering and energy infrastructure, furthering its plans to potentially build travel pods that can travel between Toronto and Montreal in under 45-minutes using their hyperloop technology.

“TransPod recently secured $15 million USD seed funding, and we’re pushing harder than ever on global growth, innovation, and invention,” said Sebastien Gendron, founder and CEO, TransPod in a press release earlier this year.

“Hyperloop transportation will change the way we live, commute, and conduct business, and our goal is to introduce this change around the world,” he said. “With the addition of IKOS’ extensive experience, we’re uniquely positioned to accelerate the development of industry-leading hyperloop technologies that will significantly improve our quality of life and economic prosperity.”

TransPod will also seek support from the federal and provincial governments of Canada to prospect and build a test track in Ontario, Canada.

This month, TransPod released new renderings and a video titled “TransPod Hyperloop: Shrinking Distances, Building Connections.” The recent rendering shows the potential plans for Toronto’s TransPod loop.

“The future of hyperloop will be its ability to virtually shrink distances and create a much more interconnected economy and true global community,” said Gendron. “It will facilitate the exchange of ideas, commerce, and resources. Ultimately, we’re talking about much more than just transportation here – we’re talking about improving quality of life and economic prosperity – and TransPod is at the forefront of this new chapter.”

Let’s hope new technology means less TTC wait times/subway delays/streetcar detours in the near future.

Check out the new video below.

See also

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Yasmin Aboelsaud
Senior Staff Writer, music aficionado, fueled by coffee, travel & Drake.

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