OKR Financial & TransPod
An early-stage company in a disruptive technology space, Toronto-based TransPod designs environmentally sustainable, ultra-high-speed hyperloop technology infrastructure and vehicles. In a hyperloop system, pressurized passenger and cargo vehicles travel in a low- pressure tube environment, driven by linear induction motors and air compressors, at an average speed of 1,000 km/h.
TransPod’s ultimate goal is to combine the frequency and convenience of the subway with the speed of airlines – using fully electric propulsion.
The Problem
Given the innovative nature of this technology that does not currently exist in operational form, TransPod’s challenge was to present this vision in a way that was tangible and easy-to-understand by potential investors. TransPod’s idea also required a fair degree of flexibility in terms of financing and managing cash flow which many investors are not comfortable with.
The Solution
TransPod found the right partner in OKR Financial. Through our non-dilutive grant financing program, we were able to support them in their growth trajectory, providing the financing they needed while allowing their team to make independent decisions about how to manage cash flow. As we move into our third round of financing with TransPod, we are excited to see the company meet its milestones and goals.
As an entrepreneur building a rapid-growth startup, I appreciate OKR’s efficiency. They understand the innovation culture and the challenges that TransPod faces as an early-stage startup. I highly recommend working with the OKR Financial team.”
What Next?
TransPod recently reached an agreement with the Government of Alberta in Canada to develop a hyperloop transportation system to connect two of the province’s major cities, Calgary and Edmonton, in approximately one hour. The $22B project is expected to create up to 140,000 jobs and add $19B to the region’s GDP over the course of construction, all at no cost to the taxpayer. OKR stands proudly behind TransPod – helping speed us all toward a cleaner, faster future. To learn more about TransPod, visit transpod.com.
This Project is Expected to Add
$19B
GDP
140,000
Jobs
Is your business in the early stages of funding and seed rounds? We may be able to help you out with our non-dilutive financing programs. Contact us at [email protected] to learn more.
