Parallel Systems Raises $100 Million for Autonomous Freight Rail

Oct 7, 2026
Parallel Systems raised $100 million in Series C funding to expand production of its autonomous battery electric Panther rail vehicle and enter international markets.

Parallel Systems raised $100 million in Series C funding to expand production of its autonomous battery electric Panther rail vehicle, the company announced in a press release. AVP led the round, with new investment from Hillspire, Agility Global, and Cobalt Capital.

Existing investors Anthos Capital, Congruent Ventures, Riot Capital, and Collaborative Fund also participated. Parallel Systems will use the capital to scale manufacturing of its third generation Panther vehicle, support commercial deployments, and enter international markets.

The company is testing its system in Georgia with rail operator Genesee & Wyoming under Federal Railroad Administration supervision. Parallel Systems says several major railroads are under contract to use its autonomous delivery system for commercial freight.

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