San Francisco, A start-up named Arrivo formed by ex-Hyperloop One executives is winding up operations after laying off all employees in November as it sought new funding, The Verge has reported.
Based in Los Angeles, Arrivo Corporation was working to commercialise Hyperloop — a proposed mode of transportation, first used to describe an open-source vactrain design released by a joint team from Elon Musk-owned Tesla and SpaceX.
Arrivo was started in 2017 by former SpaceX engineer Brogan BamBrogan, who was also a co-founder of Musk’s company Hyperloop One, the report said on Friday.
Two of BamBrogan’s fellow co-founders had resigned in the months before the furloughs and the announcement that Arrivo was ceasing operations.
One of the co-founders of Arrivo, Andrew Liu, left the company in October, said his LinkedIn profile.
“In November, they moved to a more standard maglev model, in that their development plans no longer contained an essential component of a hyperloop — the vacuum tube.
“Instead of transporting people or goods through a vacuum-sealed tunnel, Arrivo was developing something that more closely resembles high-speed magnetic levitation technology,” said the report.