Parallel Systems raises USD 49.55M Series A for autonomous rail vehicles
Parallel Systems raised USD 49.55 million to build autonomous battery-electric freight rail vehicles.
Evidence notes
- The Series A round totaled USD 49.55 million.
- Parallel came out of stealth with autonomous battery-electric rail vehicles.
- Funding supported vehicle development, testing programs, and team growth.
Company context
Parallel Systems develops autonomous battery-electric freight rail vehicles and the software needed to integrate shorter, more flexible freight movement into existing rail networks.