Hyperloop One, a Los Angeles company working to develop the futuristic transportation technology, has announced $US80 million ($A108.66 million) in financing and says it plans to conduct a full system test before the end of the year.

A hyperloop would whisk passengers and cargo in pods through a low pressure tube at speeds of up to 1200km/h. Maglev technology would levitate the pods to reduce friction in the city-to-city system, which would be fully autonomous and electric powered. Hyperloop One builds off a design by Tesla and…