Parallel Systems, Inc.
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Parallel Systems, Inc. - overview
Established
2020
Location
Los Angeles, CA, US
Primary Industry
Rail Transport
About
Founded in 2020 by CEO Matt Soule, Brian Ignaut, John Howard, and Ben Stabler, and based in California, US, Parallel Systems, Inc. operates as a developer of battery-electric rail vehicles that can cover wide responsive services and a wide range of routes. In April 2025, Parallel Systems, Inc. raised USD 38 million in series B funding led by new investor Anthos Capital, with participation from other returning investors Congruent Ventures, Embark Ventures, and Riot Capital.
New investor Collaborative Fund, Milano Investment Partners, 8090 Industries, and other unspecified investors also participated in the round. The company develops autonomous battery-electric rail vehicles for moving freight. The company's autonomous battery-electric rail vehicles transport standard shipping containers as a single or double-stacked load. The company plans to use the funds raised in Series A to build its second-generation vehicle and launch an advanced testing program.
Current Investors
Embark Ventures, Congruent Ventures, Anthos Capital
Primary Industry
Rail Transport
Sub Industries
Freight Transportation Services, Rail Transport, Logistics Software
Website
www.moveparallel.com
Verticals
Electric & Hybrid Vehicles, Manufacturing
Company Stage
Series B
Total Amount Raised
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