Zeleros climbs out of hyperloop and prepares a $4.4 million round

The startup quadrupled its revenue and managed to shed losses last year thanks to mobility and battery production contracts.

Zeleros, the company founded to enter the hyperloop high-speed transportation sector, is finding its way outside of that project, whose development is very slow. Therefore, it has begun to offer other types of services derived from its initial work, with which it is managing to generate business.

Last year, its turnover reached €1.8 million , four times more than the previous year, and it also posted a profit for the first time in its history, earning €270,000.

In its annual report, Zeleros explains that, as a result of accumulated losses from previous years, it ended the last fiscal year with a negative working capital of two million euros, but plans to offset this through the conversion of convertible loans scheduled for this year.

Zeleros' annual report also states that the company is preparing a €4.4 million round of negotiations (15% capital plus share premium), which will allow it to continue the activities it has initiated.

The company acknowledges that, under current circumstances, it is difficult to finance its activities through bank debt, so it relies on available funding.

Zeleros pivoted its business to enter a line of work it calls Advanced Mobility. Along these lines, it has signed a framework cooperation agreement with a company to become part of its supplier group for the supply of a battery developed by Zeleros to be integrated into its logistics portfolio. This contract would entail an indicative exclusive demand of between 200 and 250 battery packs per year, with delivery beginning in 2026, and expected revenues of four million euros over the next four years.

Furthermore, at the end of last year, it signed an agreement to study the possible implementation of Hyperloop in Türkiye, which will be carried out in the coming months for a total of €413,000.