skyTran Announces Series B Financing

skyTran_LogoskyTran, Inc., a Moffett Field, CA-based developer of energy-efficient skyTran Personal Rapid Transit (PRT) and Cargo Rapid Transit (CRT) system, executed a bridge loan tied to a $30M USD Series B financing.

 

The agreement, negotiated and managed by Verita Merchant Bank, a Boutique Hong Kong-based private investment and merchant bank.

The proceeds will allow the company to continue its global sales initiative and product roll-out.

Led by CEO Jerry Sanders, skyTran consists of a network of computer-controlled, 2 and 4-person “jet-like” vehicles and cargo pods employing passive skyTran MagLev (STML™) technology. The company has Technology Demonstration Systems (TDS) at NASA Research Park (NRP) near Mountain View, California, and in Israel.

FinSMEs

26/04/2016

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