# Series C Round Brings $100 Million to Parallel

> Parallel Systems secures $100m series C funding to boost autonomous freight rail.
- Title: Series C Round Brings $100 Million to Parallel | Shortify
- Summary: Parallel Systems secures $100m series C funding to boost autonomous freight rail. Parallel Systems raised $100 million in series C funding to expand electric…
- Keywords: parallel systems, series c, autonomous freight rail, space exploration technologies corp, advance venture partners, anthos capital, cobalt capital, riot venture, business, local, Series, Round
- Source: Los Angeles Business Journal — https://labusinessjournal.com/manufacturing/series-c-round-brings-100-million-to-parallel
- Author: Keerthi Vedantam
- Published: 2026-10-19T07:54:32+00:00
- Read time: 1 min
- Topics: parallel systems, series c, autonomous freight rail, space exploration technologies corp, advance venture partners, anthos capital, cobalt capital, riot venture, business, local
## Parallel Systems Founded
Matt Soule founded Parallel Systems in 2020 after working at SpaceX for 13 years.

> I started really thinking a lot about space exploration technologies corp's mission to make life multi-planetary
## Series C Funding Announced
Parallel Systems raised $100 million in series c funding led by advance venture partners.

> Here is this legacy mode rail, the original technology bubble
## Rail Freight Market Share
Rail accounts for 11% of transborder freight utilization in the u.s. compared to 63% for trucks.

> trucks made up 63% of transborder freight utilization in 2025
## Autonomous Freight Solution
Parallel Systems' panther vehicle moves cargo 500 miles without an operator using battery power.

> The vehicles are also battery-powered, eschewing the fluctuating cost of diesel prices
## Investor Support
Local investors including anthos capital and cobalt capital provided additional funding for the series c round.

> Santa monica-based anthos capital and cobalt capital
## Future Impact
Parallel Systems aims to reduce truck traffic on the 710 freeway by shifting freight to rail.

> If more goods could be moved from los angeles' two ports to rail
## Key takeaway

Parallel Systems raised $100 million in series C funding to expand electric autonomous freight rail services.