Zeleros Gets Ahead With €7 Million Funding

Zeleros Gets Ahead With €7 Million Funding

July 14, 2020 0 By Looper

Zeleros, a hyperloop company which designs and develops new technologies for sustainable and efficient transportation, secured funding from its investors. Among the firms supporting the Valencia-based startup are corporations such as Altran – world leader in engineering, R&D services and an integral part of Capgemini, and Grupo Red Eléctrica, which operates the national electricity grid in Spain. Zeleros was also supported by Goldacre Ventures (UK), Road Ventures (Switzerland), Plug and Play (US), the Spanish Angels Capital and MBHA.

The money will be utilised to further develop the hyperloop system and the technology needed to support it. David Pistoni, who is currently the CEO of Zeleros, said:

“For Zeleros it is key to have partners of this relevance and expertise onboard. Their support will accelerate the development of our technologies, unlocking the path towards hyperloop-based routes and corridors in Europe and worldwide. These new funds will boost a major milestone of developing and demonstrating our technologies in a real environment of operation, bringing Zeleros closer to a multibillion market opportunity to be captured in the next decades.”

The aim of this technology is to become a viable alternative for regional aviation on routes measuring from 400 to 1 500 km. The benefits of this means of transport include the reduction of the overall infrastructure costs, as well as a green way of travelling which does not generate that much pollution compared to planes.

The team from Zeleros also wants to build a European hyperloop development centre which would be located in Spain. The centre would contain a test track of approximately 3 km (roughly 1.86 miles). This project would result in creating an environment in which international technological companies could exchange and test their ideas.

Pilar Rodríguez, who is the Strategy, Innovation and R&D Director of Altran, stated:

“As a world-leading engineering company, Altran acts as a technological catalyst in various strategic sectors. By supporting Zeleros, Altran is accelerating disruptive innovation in a sector, such as mobility, that is reinventing itself. With technologies like hyperloop we are changing the future of mobility. Altran has been collaborating with Zeleros since 2017 and will now contribute all of its experience and multidisciplinary talent to help the company accelerate the development of hyperloop technology.”