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Parallel (Electrical Equipment)

Transportation · Los Angeles, CA · Founded 2020 · Privately Held (backing)

Developer of an autonomous battery-electric rail system intended to serve as an autonomous and zero-emissions freight transportation. Parallel (Electrical Equipment) is based in Los Angeles, CA and was founded in 2020. Its last reported valuation was $188 million in Dec 2021. It has raised $91.3 million across 1 recorded round; the latest was a $38 million Series B in Apr 2025.

Last reported valuation
$187.6M
Oct 2026
Priced at
—
Total raised
$91.3M
Last round
Series B
Apr 2025

Parallel (Electrical Equipment) key facts

as of Oct 2026
  • Developer of an autonomous battery-electric rail system intended to serve as an autonomous and zero-emissions freight transportation.
  • Parallel (Electrical Equipment) is valued at approximately $187.6M as of Oct 2026 (last reported valuation).
  • It has raised $91.3M across 1 recorded rounds; the latest was Series B ($38.0M) in Apr 2025.
  • Notable investors include U.S. Department of Energy, Collaborative Fund, Congruent Ventures, GRIDS Capital, Anthos Capital — 8 tracked in total.
  • Status: Privately Held (backing).
Last reported valuation
LOW confidence
$187.6M

Parallel (Electrical Equipment)'s last reported valuation, Dec 2021. Nothing priced has surfaced since.

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Parallel (Electrical Equipment) funding rounds

1 rounds
Apr 2025Series B$38.0M▮
Full funding history →

Parallel (Electrical Equipment) leadership

Parallel (Electrical Equipment) valuation

Parallel (Electrical Equipment)'s last reported valuation was $188 million in Dec 2021. No priced round, secondary trade or fund mark has surfaced since.

How much has Parallel (Electrical Equipment) raised?

Parallel (Electrical Equipment) has raised $91.3 million in total; 1 of its rounds is on record. The largest on record was a $38 million Series B in Apr 2025.

Parallel (Electrical Equipment) investors

8 investors are on record for Parallel (Electrical Equipment), including U.S. Department of Energy, Collaborative Fund, Congruent Ventures and GRIDS Capital.

Who runs Parallel (Electrical Equipment)

3 people are listed on the Parallel (Electrical Equipment) team: 3 executives, including Ben Stabler (Co-Founder) and John Howard (Co-Founder).

Comparable companies

Comparable transportation names by valuation on PrivateMarketView: Harbinger ($2.4 billion), May Mobility ($734 million) and Hayden AI ($350 million).

About Parallel (Electrical Equipment)

Developer of an autonomous battery-electric rail system intended to serve as an autonomous and zero-emissions freight transportation. The company builds autonomous battery-electric rail vehicles that increase infrastructure utilization and improve service to accelerate freight decarbonization by making it easier to maintain sustainability, enabling transporters to move freight more safely and cost-effectively than traditional trains or trucks.

Industry
Transportation
Sector
Business Products and Services (B2B)
HQ
Los Angeles, CA, United States
Founded
2020
Employees
80
Ownership
Privately Held (backing)

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