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

Who backs Parallel (Electrical Equipment)?

8 investors
InvestorType
U.S. Department of EnergyOther
Collaborative FundOther
Congruent VenturesVenture capital
GRIDS CapitalOther
Anthos CapitalVenture capital
Riot VenturesVenture capital
Embark Ventures—
Milano Investment Partners—
The directory is free. Investor activity — the working column — is Pro.Unlock prospecting columns

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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.

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