Canadian Hyperloop start-up gets ready to take on Elon Musk

TransPod wants to raise $50 million for its own version of hyperloop technology, designed to ferry passengers at speeds of more than 1,000 kilometers an hour

A Canadian startup is the latest contender in the race to build a super-fast transportation system to rival futuristic projects backed by Elon Musk and British tycoon Richard Branson.

TransPod wants to raise $50 million for its own version of hyperloop technology, designed to ferry passengers at speeds of more than 1,000 kilometers (622 miles) an hour. The Toronto-based company is planning to build a half-size prototype near Limoges in central France by next year that’s better than a concept put forth by Musk, according to Chief Executive Officer Sebastien Gendron.

The tube-based transport technology known as hyperloop is gaining