Branson appeared Thursday on CNBC's "Squawk Box" to announce his company, Virgin Group, is investing in Hyperloop One, which is developing the super-fast transport system originally dreamed up by Elon Musk.
It's unclear how much Branson's Virgin Group invested in the startup, but the move also brings him onboard as a new director to the company's board.
Branson, who described the endeavor as the world's most revolutionary train service, said that as a train owner (his company owns a train network in the United Kingdom in addition to an airline and other ventures), he felt this is something he wants to be able to operate.
Virgin's plan is to focus on using Hyperloop One to transport passengers and cargo.
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The pod quickly lifts above the track using magnetic levitation and glides at airline speeds for long distances due to ultra-low aerodynamic drag.
The idea is that pods will travel at hundreds of miles per hour through tubes under the ground, reducing hours-long journeys to mere minutes.
"From our airlines to our trains to our spaceline, we have always been passionate about innovation in transport too, especially the development of technology that could transform people's lives", Branson said in a statement.
Hyperloop One announced the first successful full-systems test in July.
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'This is just the latest example'.
He said that the operation was only in the "early stages" of commercial development, but that he was looking forward to creating a global passenger service.
Financial details weren't disclosed although one would assume it's significant considering Hyperloop One is changing its name to Virgin Hyperloop One.
"Virgin is an iconic brand, and having Richard as an ally will help strengthen our mission to spread Hyperloop One throughout the world", Hyperloop One co-founder Shervin Pishevar said in a statement.
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