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Richard Branson's firm invests enough in Hyperloop One to rename it Virgin Hyperloop One

Richard Branson's firm invests enough in Hyperloop One to rename it Virgin Hyperloop One

Richard Branson’s Virgin Group has invested in Hyperloop One, a Los Angeles company that is developing a super-fast transport system and soon will change its name to Virgin Hyperloop One, the companies said Thursday.

Branson, the billionaire whose other holdings include Virgin Atlantic Airways and the Virgin Galactic spacecraft venture, also joined the board of Hyperloop One.

“This is an incredibly innovative and exciting new way to move people and things at airline speeds on the ground,” Branson said on Virgin Group’s website.

The size of Virgin Group’s investment was not disclosed but it was part of an $85-million funding round from several investors last month,...

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