The start-up secured $50 million in a funding round led by DP World, the third largest port and terminal operator in the world, in October for that purpose. The $50 million investment brought Hyperloop One's total funding to $160 million, according to the start-up.
"The port system means unloading can happen offshore and the tube can unload the load in the desert," Shervin Pishevar, executive chairman at Hyperloop One, said at the Web Summit conference. "It gets trucks off the roads. You can unlock billions of dollars of waterfront property for redevelopment."
Hyperloop One plans to open a full-scale development test track in Las Vegas in the first quarter of 2017. The Finnish and Dutch governments have also granted the start-up approval to build "proof of operations" facilities.