Parallel Systems develops autonomous, battery-electric rail vehicles that let railroads run shorter, lower-density freight routes economically and give shippers a rail alternative to trucking on trips under 500 miles. Each self-powered Panther railcar carries its own motors, sensors and onboard autonomy software, operating alone or in software-coordinated groups on existing track. Founded in 2020 in Los Angeles by former SpaceX engineer Matt Soule, the company runs an FRA-supervised commercial pilot with Genesee & Wyoming in Georgia and has major railroads under contract to deploy its system.
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Oct 7, 2026
Latest raise
Funding activity · 1 round
Oct 7, 2026
$100M
Series C+
Led by AVP
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