Autonomous battery-electric rail vehicles company Parallel Systems has raised $49.55 million in series A funding.
The Culver City, California-based company was founded by three former SpaceX engineers who worked together to “reimagine the railroad system,” the Wednesday release said.
The funding round was led by Anthos Capital. Congruent Ventures, Riot Ventures, Embark Ventures and others also invested.
Parallel’s autonomous...