Parallel Systems

Zero-emissions freight transportation systems

Parallel Systems logo
21-100 employees
  • B2B
  • Sustainability
  • Logistics
  • Freight
  • Supply Chain
Arts District, Los Angeles, CA

Company mission

To decarbonize freight while improving supply chain logistics and safety through its autonomous, zero-emission freight transportation system.

66% employee growth in 12 months

Our take

The huge freight networks of the U.S. currently face the significant challenge of optimizing their supply chain logistics whilst meeting regulations for the mitigation of global warming. Whilst electric trucking startups provide a small-scale solution, the $700 billion industry is enormous, and replacing trucks would be unaffordable to most companies.

Parallel designs autonomous, zero-emissions freight transportation systems for railways, providing a sustainable alternative to freight trucking. The automated rail vehicles use existing railway networks to increase infrastructure utilization and open railroads to new markets, whilst providing an alternative to logistics companies that is safer, faster, zero-emission, and lower cost.

While the company faces competition in fellow autonomous railcar company Intramotev, Parallel shows promise to disrupt the market by being based on pre-existing infrastructure that is faster, safer, and cheaper than road-based logistics. Through this approach, the company can help logistics companies become carbon-neutral whilst increasing their access to railway freight, thus saving them money and boosting opportunities for revenue growth.

Steph headshot

Steph

Company Specialist at Welcome to the Jungle

Funding (2 rounds)

Jan 2022

$49.6m

SERIES A

Jun 2020

$3.6m

SEED

Total funding: $53.2m

Leadership

Avionics Engineer for SpaceX from 2006 to 2019.

John Howard

(VP of Engineering)

Experience as Co-founder and CTO of Kespry Inc. Battery Engineer for SpaceX from 2012 to 2020.

Benjamin Stabler

(VP of Software)

Experience as Co-founder and CTO of Kespry Inc. Power Electronics Engineer for SpaceX from 2015 to 2020.

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