Parallel Systems raised $100M to scale production of its autonomous electric rail vehicle, which can shuttle thousands of pounds of freight up to 500 miles.
The startup founded by former SpaceX engineers raised USD $100 million to expand the production of its Panther autonomous rail vehicles. Its proposal points to cargo routes of less than 500 miles, a segment that today dominates trucks and that the company seeks to service with electric units capable of circulating without operator.