SpaceX alumni nab $100M to rethink shipping with autonomous freight trains | TechCrunch
I'm excited to announce that Parallel has closed $100M in new funding. The round was led by AVP | Advance Venture Partners, with new investors Hillspire, Agility, and Cobalt Capital alongside continued support from Anthos Capital, Congruent Ventures, Riot Ventures and Collaborative Fund.
Since our last raise, we've made big strides in our first deployment with Genesee & Wyoming Inc. and have started production of our next generation vehicle to fulfill customer orders. This new capital will allow us to scale and is testament to the strength of the Parallel team and the new business this technology enables for our customers.
Big thanks to Tim De Chant at TechCrunch for the coverage.
https://lnkd.in/gtRJBBR6
Why this matters for talent
A fresh 100 million dollar round for autonomous freight trains signals real investor conviction that rail automation is moving from pilot to deployment. The jobs board lists 19 openings at Parallel Systems, and rounds like this typically translate into controls, systems integration, and field deployment hiring in the months ahead. Rail adjacent talent with autonomy or controls experience should watch this company closely.
540 likes · 54 comments · 22 shares · Read the original LinkedIn post · full article. Curated by Larry Sherwood Jr. from company announcements; analysis above is my own.