Startup Arrivo, which was founded by former Hyperloop-One employees, is unlikely to build a Hyperloop: According to information, the company is not expected to have raised new funding and must therefore close.
The Hyperloop startup Arrivo is apparently bankrupt: Citing employees of the company, all employees were dismissed and ceased operations.
Arrivo and the bad decisions
Arrivo had apparently first released in November 2018, half of the 30 employees and hoped to receive new capital at the end of the month. By the end of November, however, the redundant employees had already been terminated.
The financing round was ultimately not successful, which has now led to the closure of the company. According to the informants, who want to remain anonymous, now the rest of the employees have been dismissed.
Some background story
Arrivo was founded by Hyperloop One co-founder Brogan BamBrogan after he and his colleagues got lost. The separation of BamBrogan and Hyperloop One was accompanied by mutual complaints, which could be settled out of court at the end.
Arrivo, unlike Hyperloop One, did not want to drive a Hyperloop train in a vacuum tunnel. The transport capsules should instead be operated by means of magnetic levitation. Arrivo wanted to focus on shorter distances and the first and last mile, as the company said in an interview with Golem.de. The capsules should bring the passenger home and not to a station, as with the other Hyperloop projects.
Tests should start in early 2019
The concept was to be tested in Denver, Colorado. Construction should begin in early 2019, and by 2021 the system should be operational. It will probably not happen anymore.
Also published on Medium.