Zeleros raises €7m to fuel development

Zeleros Hyperloop, winners of the SpaceX Hyperloop Pod Competition organised by Elon Musk, have completed a financing round worth more than €7 million. The company starts a new and important phase in the development of its unique version of hyperloop, the “fifth mode of transport”, the best alternative for the future to connect efficiently and sustainably long-distance routes for passenger and cargo transportation. Connections like Paris – Berlin could be reduced to less than an hour.

Zeleros opens this new stage thanks to the support of companies such as Altran, Grupo Red Eléctrica and also strategic investors at national and international level, including among others Goldacre Ventures (United Kingdom), Road Ventures (Switzerland), Plug and Play (USA), and the Spanish Angels Capital and MBHA.

The funds will be used to impulse further development of Zeleros’ hyperloop vehicle and its core technologies, which place them as the best alternative to cover efficiently routes between 400 and 1,500 kilometers in distance, with special benefits such as the reduction of the overall infrastructure costs and the operation at safer pressures for passengers.

David Pistoni, Chief Executive Officer at Zeleros, said: “For Zeleros it is key to have partners of this relevance and expertise onboard. Their support will accelerate the development of our technologies, unlocking the path towards hyperloop-based routes and corridors in Europe and worldwide.

“These new funds will boost a major milestone of developing and demonstrating our technologies in a real environment of operation, bringing Zeleros closer to a multibillion market opportunity to be captured in the next decades”.

Pilar Rodríguez, Strategy, Innovation and R&D Director at Altran added: “As global engineering leader, Altran is devoted to act as a technology catalyst bringing innovations into different strategic sectors. By supporting Zeleros and the deployment of hyperloop, Altran is accelerating the disruption of the mobility industry towards its decarbonisation.”

Miguel Ruiz Dealbert, CEO at MBHA Group, highlighted: “Our companies are committed at supporting technologies and start-ups that accelerate the transition towards a more sustainable mobility. Zeleros has a great potential to decarbonise interurban mobility sector, currently covered by regional aviation.

“Our company ZIUR Composite Solutions will bring its wide experience in the development of complex structures of composite materials and process automation, supporting Zeleros to reduce the time of implementation and commercialization of their disruptive technologies.”

The following step will be the deployment of the European Hyperloop Development Centre in Spain, including a test track to demonstrate the effectiveness of its technologies at high speed. The aim of this project is to accelerate the development of the hyperloop industry in Europe, by creating an ecosystem of international industrial, technological and institutional partners.