The hyperloop technology came into existence almost ten years since Elon Musk brought the concept to modern public consciousness in 2013. His company, Space X sponsored The Hyperloop Pod Competition, which spawned many ideas for the hyperloop technology in development. Some teams are scaling to become fully functional startups with funding from investors. One such company is Hardt Hyperloop.
Secures €12M funding
Netherlands-headquartered Hardt Hyperloop has announced that it has netted funding from an impressive consortium of investment partners. The funding comes from the EU’s €1.1 billion European Innovation Council (EIC) Fund, the Dutch regional investment funds InnovationQuarter & Investment Fund Groningen. Also, the successful entrepreneur Peter Goedvolk, through his fund First Dutch, in partnership with Platform Zero. The total from both investments is over €12 million.
Koos Fuykschot, Manager IQCapital, InnovationQuarter, remarked: “We have always considered Hardt Hyperloop to be at the forefront of innovation in the Rotterdam/Delft area, ever since the first investment in 2017 by UNIIQ, our early-stage fund. Now with IQCapital, our largest fund, we are even more committed to fostering these transformative hyperloop technologies and driving their growth in our region.”
Jan Martin Timmer, Fund Manager Investment Fund Groningen added: “Groningen has a leading position in supporting sustainable transport- and energy development. Already in 2019, Groningen committed to hosting the European Hyperloop Center. Investing in Hardt’s hyperloop development therefore comes naturally. We are excited to join Hardt on its journey and amplify Groningen as a key region for hyperloop developments.”
Tim Houter, co-founder of Hardt Hyperloop, said “With these new investors alongside our existing backers, we have a great foundation to further the development and commercialization of the hyperloop. The continued support is a great sign of credibility and trust in our development roadmap. It is also not just a win for Hardt Hyperloop — it is a great step for the hyperloop industry of which the EHC is an essential step in the roadmap towards a sustainable connected future.”
Hermann Hauser, member of the EIC Fund Board, commented: “The EIC Fund is proud to support Hardt Hyperloop in its venture to revolutionize transportation. This investment signals the fund’s confidence in Hardt’s potential to deliver a transformative solution for the mobility landscape in Europe and beyond.”
Peter Goedvolk, owner of First Dutch: “Advancing transformative solutions is paramount to achieving a net-zero carbon reality. At First Dutch, we believe in the power of collaboration to accelerate progress. We are proud to partner with Platform Zero to invest in and support the growth of Hardt Hyperloop. This innovative technology has the potential to disrupt traditional transportation systems and enable more sustainable travel. We are delighted to support Hardt’s development and growth from its base in Rotterdam, and we look forward to seeing how Hardt will transform the future of transport.”
Eyes for testing in 2024
This funding milestone underpins the completion of the European Hyperloop Center (EHC) project. It is Hardt’s hyperloop test vehicle, setting the stage for testing operations to commence in 2024.
With the backing of these renowned partners, Hardt Hyperloop is all set for completion and testing of its project. Being built in Veendam in the Province of Groningen, in the Netherlands, the EHC is a 420-meter-long test facility including a lane switch, will allow Hardt to prove all essential technologies for hyperloop. Also, it amplifies Hardt’s commitment to leading the transformation of future transport with the hyperloop.
A world where distance doesn’t matter
Founded by Marinus Van Der Meijs, Mars Geuze, Sascha Lamme, and Tim Houter in 2016 in the Netherlands, Hardt Hyperloop develops a transport system that travels across huge distances completely emission-free, safe, and accessible to everyone. The company aims to build a worldwide hyperloop network that will make sustainable and speedy transportation accessible to everybody.
The post Dutch startup Hardt Hyperloop secures €12M for the development of European Hyperloop Centre appeared first on Tech Funding News.