Parallel Systems Closes $100M+ Series C to Commercialize Autonomous Freight Rail

Parallel Systems closed more than $100 million in Series C funding on October 7, 2026, led by AVP. The SpaceX-alumni startup will use the capital to fully commercialize its autonomous freight rail system, scaling manufacturing of its third-generation vehicle and accelerating rollout. Its battery-electric Panther can move several tons up to 500 miles without an operator.