Founded by a trio of former SpaceX engineers, including CEO Matt Soule, Parallel’s idea for smaller, flexible zero-emission trains pulling no more than 50 cars and operating with greater frequency than traditional behemoths that haul over 150 boxcars at a time caught the attention of tech-oriented venture firms, including Anthos Capital, Congruent Ventures, Riot Ventures and Embark Ventures. With their backing and from other investors, Parallel just raised $49.6 million to refine prototypes and software for its futuristic trains and, eventually, shift more freight hauling from trucks…

Big batteries for trains can also be spread across multiple cars, rather than being concentrated in a single vehicle. Additionally, since trains rolling on steel wheels and tracks don’t require as much power to keep moving as trucks on the highway do, Parallel can use cheaper, less energy-dense types of batteries than an electric Tesla or Nikola semi will need.