If this key technology demonstration test meets expectations it is likely to further wet investor appetite in the company which has so far raised $160 million in funding.

Engineers of U.S. Los Angeles-based Hyperloop One will soon begin conducting a crucial test that will determine the maturity of the futuristic technology championed by Elon Musk that could potentially revolutionize today’s transportation system.

Hyperloop One is gearing up to send a 28-foot-long (8.5 meter-long) pod hurtling down its tracks in a test run set to take place in Nevada in upcoming weeks, said Marcy Simon, Hyperloop’s spokeswoman.

During upcoming test, the company aims on achieving speeds of at lest 250 mph (402 km/h).

As it gears up for the test, the company has released its preliminary data of its May 12 test, which it conducted in the Nevada desert wherein for the first time, its sled on wheels levitated above a track for 5.3 seconds using magnets in a vacuum-sealed tube where it touched speeds of 70 miles per hour (113 km/h), said Simon.

Backers of the project envision the pods reaching speeds upto 750 miles per hour (1,200 kph). Sceptics say, the concept faces daunting real-world changes, including making a turn during a curve at jet speed.

Having raised $160 million in funding, the company has touted the hyperloop technology as tomorrow’s solution for rapid-transit.

“Hyperloop One will move people and things faster than at any other time in the world,” said Shervin Pishevar, co-founder and executive chairman of Hyperloop One, in a statement.