Parallel raises $100M for autonomous freight rail

Parallel Systems closed a $100 million Series C, led by AVP, to scale production of its Panther autonomous battery-electric rail vehicles and expand internationally, according to the company’s October 7 release. Its Georgia freight pilot with Genesee & Wyoming is operating under Federal Railroad Administration supervision; the company says total funding now exceeds $200 million. Logistics operators should distinguish manufacturing capacity from permission to deploy on a particular corridor, much as our SiMa analysis separated fresh funding from shipping hardware and qualification evidence.