Wednesday, January 19, 2022

Parallel Systems Picks Up $49.55M For Autonomous Trains

Culver City-based Parallel Systems, a startup developing autonomous train and transportation technology, said today that it has raised $49.55M in a Series A funding round. The funding was led by Anthos Capital, and also included Congruent Ventures, Riot Ventures and Embark Ventures. The company is led by CEO Matt Soule. The company's founders are engineers from SpaceX, Google, and Tesla. According to the company, it is developing system which would create autonomous, battery-powered train cars, which would automatically link with other cars without need for traditional diesel locomotives.