In addition to Richard Branson joining the board, we have attracted and commanded the greatest minds to guide us as we position ourselves for global growth. Their proven leadership in their respective industries adds another dimension in helping us achieve our dream of bringing Virgin Hyperloop One technology to the world.
When I look at cities now, I don't see them in the present. This is the decaying infrastructure of our existing cities. Years from now, none of this is going to be here. New cities are going to rise.
I look forward to working with my friend and fellow Iranian American Mr. Khosrowshahi. Dara's experience and his proven track record of success make him the right choice to lead Uber.
Government, in many ways, is absolutely going to, if not already has, become irrelevant. It's not going to be in control anymore with the technologies that are coming down the pipe.
With Hyperloop One, the world will be cleaner, safer, and faster. It's going to make the world a lot more efficient and will impact the ways our cities work, where we live, and where we work. We'll be able to move between cities as if cities themselves are metro stops.
We're not going to let anything get in our way of hitting our milestones and making history and showing the world that Hyperloop works.
Europe embraces new ideas in transportation like no other region in the world and is uniquely positioned to take the next great leap in transportation with Hyperloop One.
We are so fortunate that our new and existing investors share our vision of making Hyperloop the world's first new mode of transportation in over a century. We initially targeted $50 million and ended up raising $85 million instead.
At Hyperloop One, we're committed to enabling disruption, and we recognize the importance of partnership in being able to realize the full potential of developing robust ecosystems that are needed to support Hyperloop's capacity.