Parallel Systems Raises $100 Million Series C Led By AVP With Participation From Multiple Investors

Parallel Systems, a rail technology startup founded in 2020 by former SpaceX engineers, raised a $100 million Series C led by AVP, with participation from Hillspire, Agility Global, Cobalt Capital, Anthos Capital, Congruent Ventures, Riot Ventures and Collaborative Fund. The company, led by co-founder and CEO Matt Soule, is developing battery-powered, autonomous Panther rail vehicles designed to move freight up to 500 miles independently or in uncoupled platoons, helping railroads compete with trucking on shorter routes while reducing congestion and emissions. FOUNDERS: Matt Soule, Ben Stabler & John Howard INVESTORS: AVP, Hillspire, Agility Global, Cobalt Capital, Anthos Capital, Congruent Ventures, Riot Ventures & Collaborative Fund ROUND: Series C AMOUNT: $100,000,000 HQ: Los Angeles, California #VentureCapital #ParallelSystems #MattSoule #AVP #TradedVC