Parallel Systems raises $100 million for rail vehicle production
$TRUMP
$XAU
#FedMinutesFocusOnOctoberPause #RobinhoodAdds$25MInBitcoinToBalanceSheet #BTCFallsBelow$84K #DubaiVARAIssuesReserveAssetAuditCircular #DubaiVARAIssuesReserveAssetAuditCircular
Parallel Systems closed a $100 million Series C funding round on Wednesday, aiming to accelerate production of its autonomous rail freight vehicle, “Panther,” and expand into international markets. AVP led the round, joined by new investors Hillspire, Agility Global, and Cobalt Capital, alongside existing investors Anthos Capital, Congruent Ventures, Riot Capital, and Collaborative Fund.
The Los Angeles-based company is developing autonomous, battery-electric rail freight systems designed to serve shorter, lower-density routes under 500 miles, which account for 60% of the land freight market. The technology enables shippers to use rail for short-haul freight operations that previously required trucks, by leveraging the existing rail network.
$TRUMP
$XAU
#FedMinutesFocusOnOctoberPause #RobinhoodAdds$25MInBitcoinToBalanceSheet #BTCFallsBelow$84K #DubaiVARAIssuesReserveAssetAuditCircular #DubaiVARAIssuesReserveAssetAuditCircular
Parallel Systems closed a $100 million Series C funding round on Wednesday, aiming to accelerate production of its autonomous rail freight vehicle, “Panther,” and expand into international markets. AVP led the round, joined by new investors Hillspire, Agility Global, and Cobalt Capital, alongside existing investors Anthos Capital, Congruent Ventures, Riot Capital, and Collaborative Fund.
The Los Angeles-based company is developing autonomous, battery-electric rail freight systems designed to serve shorter, lower-density routes under 500 miles, which account for 60% of the land freight market. The technology enables shippers to use rail for short-haul freight operations that previously required trucks, by leveraging the existing rail network.
