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Hyperloop One has a new investor, a new board member and a new name.
Richard Branson’s Virgin Group has invested in the Los Angeles-based startup that’s working on bringing Elon Musk’s vision for a high-speed tubular transportation system to reality — including a possible route in Texas.
Terms of the deal were not disclosed, but the figure is high enough to warrant a name change: The company will rebrand as Virgin Hyperloop One in the coming months.
And Branson is joining the board to…
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READ MORE: Richard Branson bets big on Hyperloop One