Startup plans to test futuristic transport system by year end

Hyperloop One startup, intent on zipping people along at near-supersonic speeds in pressurized tubes, announced on Tuesday that the French national rail company had joined its growing list of backers.

A hyperloop would whisk passengers and cargo in pods through a low pressure tube at speeds of up to 1,130 kilometers per hour.

Hyperloop One said that it raised $80 million in fresh funding from an array of investors, including GE Ventures and France's SNCF.

"The overwhelming response we've had already confirms what we've always known, that Hyperloop One is at the forefront of a movement to solve one of the planet's most pressing problems," Hyperloop One co-founder Shervin Pishevar said.

"The brightest minds are coming together at the right time to eliminate the distances and borders that separate economies and cultures."

Pishevar and Brogan BamBrogan founded Hyperloop One, originally named Hyperloop Technologies, in 2013 to make real Elon Musk's well-researched vision of a lightning-fast transport system with the potential to transform how people live.

Musk outlined his futuristic idea in a paper released in 2013, challenging innovators to bring the dream to life.

Hyperloop One, one of the startups that picked up the gauntlet Musk threw down, plans a demonstration on Wednesday in the desert outside Las Vegas to show what it has accomplished so far.

BamBrogan also promised a "full-scaled, full-speed" demo by the end of the year.

"It's not just a faster train; it is an absolute on-demand experience," he said.