Monarch Tractor, a startup cofounded by a member of the Mondavi wine family, is leveraging technology more commonly associated with battery-powered Teslas and autonomous Waymo vans to create electric robotic tractors it says can make farming safer and more sustainable. The Silicon Valley-based company just raised $20 million as it prepares to start deliveries.
Monarch, which came out of stealth in late 2020, said funds from its Series A round will help it expand operations beyond the U.S. to international markets. Deliveries of its first tractors, priced from $50,000, begin in late 2021. Investors in the round include Japanese auto-parts maker Musashi Seimitsu Industry, European agricultural and commercial vehicle maker CNH Industrial and India’s VST Tillers Tractors. Silicon Valley-based At One Ventures and private capital group MUUS also invested in the round.
Recent Comments