Elon Musk's hyperloop technology gained investment from The Russian Direct Investment Fund, which is established on the government's initiative for investing in large infrastructure projects in Russia. Georgy Vaschenko, director of operations of the Russian capital market at Freedom Finance, said that the size of the investment is not yet disclosed, but may have not exceeded $100 million.
Musk's hyperloop technology promises to transport passengers and cargo in special capsules through tubes with low pressure at a speed of up to 745 mph, UPI reported. Musk's hyperloop technology project is still in its development stage, however, made it a high-risk and venture investment, according to the director of market analysis at Otkrytie Broker, Konstantin Bushuyev. RDIF's investment in Musk's hyperloop technology is said to be unusual and the first of its kind.
Musk's hyperloop technology interests RDIF because of its uniqueness. The fund's general director, Kirill Dmitriev is determined on the idea that Musk's hyperloop technology can be used for transporting containers first before letting people use it. He even said that their investment in Musk's hyperloop technology will give them access to leading technologies for the Russian market.To read more, click here.