đź“ť Parallel Systems raises $38M

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Liam Gill
April 14, 2025

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Parallel Systems, a Los Angeles-based startup founded by ex-SpaceX engineer Matt Soule, aims to revolutionize freight transport by electrifying and automating railcars to compete with short-haul trucking. Their autonomous, battery-powered train cars operate independently, link and unlink without human input, and fit existing rail infrastructure—offering a safer, more flexible alternative for smaller freight loads. Backed by a recent $38 million Series B, Parallel now has over $100 million in funding and federal approval to pilot a 160-mile stretch in Georgia. With rising tariffs and cost pressures, investors believe this "generational innovation" could reshape how goods move across America.

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