The company has now changed its name into "Virgin Hyperloop One".
The global strategic partnership will focus on passenger and mixed-use cargo service in addition to the creation of a new passenger division.
Virgin Group has invested in Hyperloop One and rebranded the company Virgin Hyperloop One. Headquartered in Los Angeles, the company was Co-founded by Executive Chairman, Shervin Pishevar and President of Engineering, Josh Giegel, and is led by CEO Rob Lloyd.
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Hyperloop is being proposed as a new form of high-speed, efficient, all-electronic travel which involves passengers and cargo being loaded into a pod, then accelerated through a low-pressure tube via electric propulsion.
At the moment the technology for Hyperloop One is now in the early stages of commercialisation after the group successfully ran its first trial earlier this year.
The company did not disclose the size of the investment.
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Branson and his company, Virgin Group, are investing an undisclosed sum in the startup to kick off a new global partnership.
Virgin Hyperloop One is not the only company making major advances in developing the technology.
He added: "During phase two of testing, the duration of the longest test has been 10.6 seconds, with the top speed of 192mph (310kmh) - or 86 metres per second".
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While the test facility's overall structure has been completed, Hardt will continue installing hardware that will enable it to test the system's magnetic levitation and vacuum capabilities. The vehicle reportedly coasted above the first portion of the track for 5.3 seconds and reached almost 2Gs of acceleration while achieving the target speed of 70mph. Conceived in 1970 by Sir Richard Branson, the Virgin Group has gone on to grow successful businesses in sectors including mobile telephony, travel & transportation, financial services, leisure & entertainment and health & wellness. "He's always looking at the future of transport, whether it be in space or on land, and he's run trains for more than 20 years in the United Kingdom". Around the world, they'll work with many different operators, chosen by customers. He said there was a "long way to go" before it could be used in the real world.