Parallel Systems
Autonomous battery-electric rail cars for short-haul freight.
- Founded
- 2020
- Headquarters
- Los Angeles, CA
- Disclosed funding
- $38M
- Status
- Operating
- Sector
- Mobility & Aviation
- Latest round
- Series B, $38M
- Reported valuation
- —
- Website
- moveparallel.com
Overview
Parallel builds self-propelled rail vehicles that can move individual containers, making rail competitive with trucks on short routes; its first commercial pilot runs in Georgia. CEO Matt Soule spent more than a decade at SpaceX.
Funding
At least the $38M Series B (Apr 2025); Series A amount not totaled here.
Disclosed funding is the sum of publicly reported rounds found in the sources below. It is a floor, not a complete total.
Founders
Topics
Sources
- TechCrunch: Parallel Systems autonomous electric rail
- Fast Company: SpaceX mafia is just getting started
Last verified September 30, 2026.