Parag Agrawal, an Indian-American who was ousted as Twitter CEO by Elon Musk in late 2022, is now leading a new AI startup, Parallel Web Systems. The company has reportedly raised $100 million, valuing it at around Rs 19,020 crore. Agrawal previously served as Twitter’s CTO before taking over as CEO in 2021 after Jack Dorsey left.
Parallel Web Systems, co-founded by former Twitter CEO Parag Agrawal, has reportedly raised $100 million in a Series B round led by Sequoia Capital. The funding lifts the company’s valuation to about $2 billion, marking a major milestone as the startup expands its push on next-generation web infrastructure.
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