A silver-colored sled (C) is displayed on a test track after a propulsion open-air test at Hyperloop One in North Las Vegas, Nevada, US, May 11, 2016.[Photo/VCG]

On the eve of the test, the company announced that it will change its name from Hyperloop Technologies to Hyperloop One, to distinguish itself from another Los Angeles-based Hyperloop competitor -- Hyperloop Transportation Technologies.

Just two days ago, Hyperloop Transportation Technologies announced a licensing technology called "passive magnetic levitation" to power its own prototype. But Hyperloop One seems to be jumping ahead with an actual test of its technology and more funding.

The rebranded company also announced it has successfully raised another $80 million from the second round of financing to build Hyperloop and unveiled its new global partner ecosystem, featuring some of the world leaders in transportation engineering, architecture, infrastructure strategy and financing, construction and operations.