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SpaceX alumni nab $100M to rethink shipping with autonomous freight trains
Parallel Systems raised $100 million to scale production of its autonomous electric rail vehicle, which can shuttle thousands of pounds of freight up to 500 miles.
The railroad industry was one of the first to disrupt how the world worked with technology, but lately, innovation in freight railroading has amounted to little more than longer and longer trains. That has led many railroads to abandon shorter routes, ceding a chunk of the $1 trillion surface freight market to trucking companies. But as diesel prices reach record highs, some of those very trucking companies are going bust, leaving a hole in the market. Recently,…
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