Transportation Startup Closes $6.5 Million

According to a recent SEC filing, personal rapid transit (PRT) system skyTran raised $6.5 million in financing from an undisclosed investor.

skyTran is a patented, high-speed, elevated PRT system that, according to the company, transports passengers in a fast, safe, green, and economical manner. Its network of computer-controlled, two-person “jet-like” vehicles employ state-of-the-art passive Magnetic Levitation technology.