SpaceX ex-engineers' electric rail vehicle startup raises $50 mn

SpaceX ex-engineers' electric rail vehicle startup raises $50 mn

• By Staff Writer

Parallel Systems, a startup founded by three former SpaceX engineers to build electric self-powered train cars, has raised $50 million in Series A funding. The company's freight rail system involves self-driving electric rail cars that work in pairs and each pair can carry one standard shipping container. They can link together to form "platoons" or split off to multiple destinations.