Parallel Systems secures $100M to expand autonomous railcar production

The company's electric rail vehicle can move thousands of pounds of freight over distances of up to 500 miles, according to TechCrunch. RuntimeWire reports that former SpaceX avionics leader Matt Soule will use the Series C funding to increase Panther production as Parallel moves from a supervised Georgia pilot toward commercial service.

• RuntimeWire says the Federal Railroad Administration supervises the pilot.

Covered by 2 publishers within an hour of the first report.

• RuntimeWire: Parallel Systems raises $100M to scale Matt Soule's autonomous freight railcars

Reporting2

TC TechCrunch SpaceX alumni nab $100M to rethink shipping with autonomous freight trains · Tim De Chant 11:00 AM

RTW RuntimeWire Parallel Systems raises $100M to scale Matt Soule's autonomous freight railcars · RuntimeWire Staff 11:21 AM

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