Parallel Systems raises $100M Series C for autonomous rail AI

On October 8, 2026 Parallel Systems confirmed it has closed a $100 million Series C round to commercialize its battery electric autonomous freight rail platform. Chinese outlet Softunis and several deal trackers report the round was led by AVP with participation from Hillspire, Agility Global and multiple venture firms, bringing the U.S. startup’s total funding above $200 million to scale its Panther driverless rail vehicles for short haul cargo.