Parallel Systems Raises $38M in Series B Funding

Parallel Systems Raises $38M To Accelerate Commercialization Of Battery-Electric Freight In The U.S.

Parallel Systems secures $38 million in Series B funding and receives federal approval to launch its first commercial pilot on a 160-mile route in Georgia. The company develops autonomous battery-electric railcars designed to reduce trucking congestion and cut freight costs. Backed by a total of $100 million, it plans to scale production and begin broader commercial operations by 2026. Autonomous Freight Moves Closer to Reality in the U.S. Paral…

Parallel Systems Raises $38M in Series B Funding

Parallel Systems, a Los Angeles, CA-based provider of an autonomous battery-electric rail system, raised $38M in Series B funding. The round was led by Anthos Capital, joined by Collaborative Fund, as well as Congruent Ventures, Riot Ventures and others. The company intends to use the funds to commercialize its solution with strategic railroad partners in the United […] The post Parallel Systems Raises $38M in Series B Funding appeared first on …