Tech Company Financing Transactions
Parallel Systems Funding Round
Parallel Systems closed a $49.6 million Series A financing round on 1/29/2022. Investors included Anthos Capital, Congruent Ventures and Embark Ventures.
Transaction Overview
Company Name
Announced On
1/29/2022
Transaction Type
Venture Equity
Amount
$49,550,000
Round
Series A
Investors
Proceeds Purpose
The funds will be used to build Parallel System's second-generation vehicle and launch an advanced testing program that will help the startup figure out how to integrate its vehicles into real-world operations.
Company Information
Company Status
Private & Independent
Industry
Transportation
Mailing Address
8671 Hayden Pl.
Culver City, CA 90232
USA
Culver City, CA 90232
USA
Phone
Undisclosed
Website
Email Address
Not Recorded
Overview
Parallel Systems is decarbonizing freight by building a cleaner, automated rail future. Parallel's zero-emissions rail vehicles are more flexible than traditional trains, allowing railroads to open new markets, increase infrastructure utilization, and improve service. We enable railroads to convert part of the $700 billion U.S trucking industry to rail.
Profile
Social Media
Company News
Facebook
YouTube
Management Team
Title
Name
Email & Social
Chief Executive Officer
Matthew Soule
Vice President
John Howard
Vice President
Benjamin Stabler
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Where The Data Comes From
We do our best to report on tech company VC transactions. VC investment data records reported here are sourced from news reports and company announcements. The information is sourced from VentureDeal.com, an affiliated venture.
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