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Parallel Systems raises $100M in Series C funding led by AVP to drive commercialization and expand internationally.
Parallel Systems, based in Los Angeles, CA, secured $100M in Series C funding. The round was led by AVP with participation from multiple investors including Hillspire and Agility Global. The capital will be used to drive full commercialization and scale manufacturing. The company focuses on providing an alternative to short-haul trucking with its autonomous freight rail solution.
Company Information
Company
Parallel Systems, Inc.
Location
4204 EAST BLVD.
Los Angeles, California, United States
About
Putatively a Series C, the investment comes after the company raised a huge $200 million Series A and a similarly large $100 million Series B. The firm now has $1.25 billion under management. So it’s not a surprise that the company just landed eight figures of capital.HR tech firm Lattice raises $175M at a $3B valuation: The company is expanding its public blogging efforts as it also lobbies directly.
Fundz sees it the moment Parallel Systems, Inc. raises, hires an exec or expands, usually minutes after it happens, and tells you who to reach.
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