Google Chairman Eric Schmidt has invested in a next-generation transportation company, skyTran, co-founded by an Indian engineer, Ankur Bhatnagar.
Schmidt has invested an undisclosed amount in Series A round of funding of skyTran through his venture capital fund Innovation Endeavors.
Arun is an alumnus of both IIT-Roorkee and IIT-Kanpur, and is the only Indian cofounder of skyTran, a NASA Space Act company headquartered at Nasa Ames Research Center in California’s Silicon Valley.
SkyTran has developed a “third-generation” Personal Rapid Transit (PRT) technology. With this, the firm is hoping to revolutionize the face of public transport across the globe.
In next two years, skyTran plans to enable a network of computer controlled levitating ‘jet-like’ vehicle which will transport passengers above surface traffic in India, making the country its first and largest market.
The company is in different stages of negotiations with state governments and is currently targeting PRT opportunities in Jaipur, Bihar, Jharkhand and Kerala.