Hardt Hyperloop closes investment led by Green Rock
The undisclosed round supports continued operations, technology development and preparations for hyperloop projects in Europe and the Americas.
Hardt Hyperloop announced on 3 November that it had closed a multi-million-euro investment round led by US investor Green Rock. Existing backers Perpetuum Ventures and Urban Impact Ventures also participated; the exact amount was not disclosed.
The investment secures continued operations for Hardt Group after one operating company, Hardt B.V., entered bankruptcy proceedings in March. The new capital will support technology development, preparations for planned projects and work on new projects.
Hardt develops magnetic levitation, propulsion and lane-switching systems for passenger and freight transport through low-pressure tubes. It supplied the core technology for the 420-metre European Hyperloop Center in Veendam.
Alongside the financing, Hardt and Green Rock signed a strategic collaboration agreement to develop hyperloop projects across North, Central and South America. Green Rock, founded by Cindy Huang, focuses on strategic infrastructure and technology.
Use of funds
Technology development
Preparation for European hyperloop projects
Develop new projects including Americas