RupeeCircle sponsors IIT Madras team for SpaceX Hyperloop Pod competition 2019

RupeeCircle, said to be the first P2P lending firm in India, has recently associated itself with Avishkar Hyperloop, a student team of IIT Madras, as a financial partner. Avishkar Hyperloop is a dynamic team of engineers and designers who have been shortlisted for the final round of SpaceX Hyperloop Pod competition 2019, to be held in Los Angeles, USA, in July 2019. With this association, RupeeCircle will sponsor the student group’s mission to beat 20 other finalists in the competition.

Ajit Kumar, CEO and founder of RupeeCircle said: “We aim to be at the forefront of technology that would impact the global business landscape and would continue promoting initiatives that can benefit the masses. At this outset, it is a privilege to be a part of this talented and innovative group of people, and support them in their innovative solutions. As a start-up, we are aware of the hurdles that innovators face on their quest to success. That’s the reason why RupeeCircle decided to team up with Avishkar and support them in the monetary aspect of their mission.”

Pranit Mehta, IIT Madras graduate, and head, Avishkar Hyperloop Business Team, said: “We are thrilled to be the finalists at SpaceX Hyperloop Pod competition and look forward to compete with the best minds in the world at the event. We are also thankful to RupeeCircle who came forward and decided to sponsor us.”

Avishkar Hyperloop is comprised of a group of enterprising engineers, designers, and business think tanks who work together at the Centre For Innovation (CFI) – a student innovation lab at IIT Madras – with the goal of designing and developing a new mode of transport, the Hyperloop. The concept of Hyperloop was floated by Elon Musk, founder of Tesla and SpaceX, and has the potential to revolutionize the transportation industry.

The competition itself is sponsored by SpaceX to create awareness and bring the best minds in the world together to work on the concept. The Avishkar Hyperloop team from IIT Madras has cleared the Preliminary Design Briefing among hundreds of participants across the globe and are preparing for the final round.