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Parallel Systems has closed its Series C funding round, raising over $100 million led by AVP. This new capital will accelerate production of the Panther rail vehicle and fuel international commercial expansion.
Amount Raised
$100 Million
Round Type
Series C
Los AngelesTransportationLogisticsInvestors
Description
Parallel Systems, an autonomous freight rail company, has successfully closed its Series C funding round, securing $100 million in new capital. The funds will be used to fully commercialize the next generation Panther rail vehicle and to expand into international markets. The round was led by AVP, with participation from several existing investors. Founded in 2020, Parallel focuses on enhancing the competitiveness of rail for short-haul freight.
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Parallel Systems raised. Fundz records a round at a median of 3.6 minutes from the SEC filing, with the decision-maker attached.
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