Former Twitter CEO Parag Agrawal Makes His Mark with AI Startup

Former Twitter CEO Parag Agrawal has made a remarkable comeback in the artificial intelligence sector after leaving the social media company following Elon Musk’s acquisition. Agrawal founded Parallel Web Systems, an AI infrastructure startup that has now raised $100 million in Series B funding. The latest funding round has pushed the company’s valuation to $2 billion, approximately ₹19,020 crore. The company develops infrastructure that enables AI agents to search, retrieve and work with information from the web more efficiently.

Agrawal chose entrepreneurship after his unexpected exit from Twitter, focusing on building his own technology company. Parallel was valued at $740 million after its Series A round in November 2025, but its valuation has now more than doubled within a few months. The rapid growth is being viewed as a significant comeback for Agrawal and highlights the growing investor interest in AI infrastructure and autonomous AI agents.