Arrivo, the startup that was formed by former SpaceX and Hyperloop One engineers, is unfortunately shutting down. Building futuristic transportation hasn’t been so promising for this company. The company closes right after most of its 30 employees were furloughed. It seems that nearly half of Arrivo’s employees were laid off. Due to lack of funds coming in, Arrivo can foresee no future for its technology, leading to layoffs, resignations of the management, and furloughs.
Arrivo was founded by former SpaceX engineer and co-founder of Hyperloop One: Brogan BamBrogan. After a bitter clash with other founders Shervin Pishevar, his brother Afshin Pishevar, CEO Rob Lloyd, and others, BamBrogan stepped away to start Arrivo.
Started in early 2017, Arrivo was different from other Hyperloop projects. While other IT services projects with transportation would send people or things in a vacuum-sealed tunnel, Arrivo was close to building a high-speed magnetic levitation technology. The technology is very similar to Elon Musk’s Boring Company.
If things had moved right, one day, Arrivo’s high-speed vehicle would use magnets to zoom down a track at about 200 miles per hour. The technology being developed by Arrivo could have moved both cargo and personnel as well. Due to its inability to gather more funds after its series A round and growing concerns at the workplace has led to its ultimate closure.