skyTran, 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