Pod transportation company, Skytran, has received $32.5 million in funding. Skytran is a NASA Space Act company that is developing a pod-based personal rapid transportation system.
Some of the funding is from former CEO of Google Eric Schmidt.
They will have a network of computer-controlled, 2-person jet-like vehicles using SkyTran magnetic levitation technology.
Lightweight two-passenger vehicles suspended from elevated passive magnetic levitation tracks are expected to achieve the equivalent of over 200 miles per US gallon fuel economy at 100 miles per hour (160 km/h) or faster. A prototype of the skyTran vehicle and a section of track have been constructed in Israel.
Skytran has access to a wide range of technologies and capabilities. It is able to combine NASA expertise, assets, and information with its own core competencies. The company was founded in 2009 and is based at Moffett Field, California.