# Parallel Systems

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/parallel-systems

- Industry: Rail Transport
- Headquarters: Los Angeles, US
- Website: www.moveparallel.com
- Total disclosed funding: $180M
- Latest round: Series C (Oct 8, 2026)
- Investors on record: 12

## About

Founded in 2020 by CEO Matt Soule, Brian Ignaut, John Howard, and Ben Stabler, and based in California, US, Parallel Systems, Inc. operates as a developer of battery-electric rail vehicles that can cover wide responsive services and a wide range of routes. In April 2025, Parallel Systems, Inc. raised USD 38 million in series B funding led by new investor Anthos Capital, with participation from other returning investors Congruent Ventures, Embark Ventures, and Riot Capital. New investor Collaborative Fund, Milano Investment Partners, 8090 Industries, and other unspecified investors also participated in the round. The company develops autonomous battery-electric rail vehicles for moving freight. The company's autonomous battery-electric rail vehicles transport standard shipping containers as a single or double-stacked load. The company plans to use the funds raised in Series A to build its second-generation vehicle and launch an advanced testing program.

## Funding rounds

- Series C, Oct 8, 2026, $100M — AVP, Anthos Capital, Cobalt Capital, Collaborative Fund, Congruent Ventures, Hillspire, Agility Global, Riot Ventures
- Series B, Apr 11, 2025, $30M — Anthos Capital, Collaborative Fund, Embark Ventures, Congruent Ventures, Riot Ventures, Milano Investment Partners, 8090 Industries, Interwoven Ventures
- Series A, Dec 15, 2021, $50M — Anthos Capital, Embark Ventures, Congruent Ventures, Riot Ventures

## Investors

- Anthos Capital (https://capitalatlas.ai/funds/anthos-capital) — Series A, Series B, Series C
- Embark Ventures (https://capitalatlas.ai/funds/embark-ventures) — Series A, Series B
- Congruent Ventures (https://capitalatlas.ai/funds/congruent-ventures) — Series A, Series B, Series C
- Riot Ventures (https://capitalatlas.ai/funds/riot-ventures) — Series A, Series B, Series C
- Collaborative Fund (https://capitalatlas.ai/funds/collaborative-fund) — Series B, Series C
- Milano Investment Partners (https://capitalatlas.ai/funds/milano-investment-partners) — Series B
- 8090 Industries (https://capitalatlas.ai/funds/8090-industries) — Series B
- Interwoven Ventures (https://capitalatlas.ai/funds/interwoven-ventures) — Series B
- AVP — Series C
- Cobalt Capital (https://capitalatlas.ai/funds/cobalt-capital) — Series C
- Hillspire — Series C
- Agility Global — Series C