Levitating train is coming down the tracks

Elon Musk’s futuristic rail pipe dream has taken a step closer to be reality, with one of the companies working on a prototype to bring the project to fruition securing $26m (€23.9m) in funding.

The Series B investment was announced by Hyperloop Technologies as the Web Summit drew to a close. The company said it was confident it would have $80m Series B funding in place by the end of the year.

Hyperloop Technologies CEO Rob Lloyd predicted the super high-speed levitating train, which is envisaged could travel from Los Angeles to San Francisco in just 30 minutes, would have huge economic benefits.