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SpaceX alumni founded Parallel Systems and secured $100 million in funding to scale production of autonomous electric rail vehicles capable of shuttling freight up to 500 miles. The company is developing technology to revolutionize freight transportation by replacing traditional trucking with autonomous rail-based logistics, leveraging the experience of its founding team from the aerospace industry. The significant funding round reflects investor appetite for alternative freight and logistics solutions that could reduce transportation costs and environmental impact. Parallel Systems' approach to autonomous rail transport addresses growing demand for more efficient and sustainable long-haul freight movement, positioning the company to compete in the emerging autonomous logistics sector.