Hyperloop Technologies Names CEO, Looks To Raise $80M

Los Angeles-based Hyperloop Technologies, one of the companies looking to bring Elon Musk's concept of the Hyperloop, high speed transportation technology to life, has named Rob Lloyd as its new CEO. Lloyd was most recently President of Cisco Systems, and is also an investor in the company. Hyperloop Technologies also said that it has added Emily White--most recently, COO of Snapchat--has joined the company as an advisor and board observer. White also had been at Facebook and Google. Hyperloop is venture backed by Formation 8, Sherpa Ventures, Zhen Capital, Caspian VC, David O. Sacks, and others. The company says it is in the middle of raising an $80M Series B funding, and plans to have a test track operational by late 2016 or early 2017. The company says it already has 50 full time employees in a 55,000 sq. ft location in downtown.