Hyperloop One gets an investment from Russia’s sovereign fund

A second Russian fund appears to be involved in Hyperloop One‘s latest $80 million round of financing, which was closed in April. Russia’s sovereign fund RDIF has just announced that it took part in the round, without disclosing, however, the amount of its contribution.
“RDIF pays great attention to the development of transport infrastructure, including the technological advances that will shape the future of the transport industry. Our investment in Hyperloop One’s project will facilitate the arrival of cutting-edge technologies in Russia. RDIF and its international partners will provide support to the project not only in Russia but also in Middle Eastern and Asian markets,” said RDIF CEO Kirill Dmitriev.
Dmitriev referred to ongoing discussions at the highest level of the Russian government and business circles to deploy Hyperloop across the country — which has the largest area in the world.
Another Russian investor in the California-based startup is Dagestani business executive Ziyavudin Magomedov, as reported earlier by East-West Digital News. His contribution – the amount of which has not been disclosed either – went through Caspian VC Partners (CVC), the venture fund which he launched last year with plans to invest up to $300 million in Russian and international startups.
Among other investors in Hyperloop One are Sherpa Ventures, Formation 8, ZhenFund, 137 Ventures, Khosla Ventures, Fast Digital, Western Technology Investment (WTI), GE Ventures, as well as the French railway company SNCF.
This post first appeared on East-West Digital News.
Sign up for Funding Daily: Get the latest funding news in your inbox every weekday.
Hyperloop One gets an investment from Russia’s sovereign fund
Hyperloop One gets an investment from Russia’s sovereign fund



Leave a Reply

Your email address will not be published. Required fields are marked *