The Virgin investment group has taken an undisclosed stake in Hyperloop One, one of several companies trying to create a pod-based transport system.
The terms of the deal have not been disclosed.
Virgin’s founder, Sir Richard Branson, is joining the Los Angeles-based firm’s board as part of the deal, and it is rebranding itself as Virgin Hyperloop One.
One expert suggested the tie-up would help raise the company’s profile.
“This is unproven technology and there’s a long way to go before it ever finds itself in use in the real world,” commented Prof David Bailey from Aston Business School.
“But this deal will certainly help in terms of marketing and potentially attract further…