Monarch Tractor has raised $133 million from investors, marking the largest fundraising round in agricultural robotics history. This significant investment will enable Monarch to scale the production of its self-driving electric tractors and enhance the development of its digital farm tools.
Since its inception, Monarch has raised over $220 million and has penetrated various agricultural markets, including dairy, berries, and orchards across 12 states and three countries. Monarch’s MK-V tractors, introduced in 2022, feature a battery runtime of 14 hours and are equipped with computer vision, allowing farmers to operate tractor fleets remotely. The company also provides a digital farm management system, WingspanAI, which collects crop imagery data while operating and tracking tractors.
“Agriculture has arrived as the next frontier for the energy transition and sustainability movement,” Monarch CEO and Co-Founder Praveen Penmetsa said in a statement. “Monarch’s application of AI and introduction of a smart, electric platform will deliver robust social, economic, and environmental returns to farmers.”
The latest funding will help Monarch expand its operational footprint, introduce new AI capabilities, and enter new markets both in the U.S. and internationally.
The funding round was co-led by Astanor and HH-CTBC Partnership, L.P., with additional support from At One Ventures, PMV, and The Welvaartsfonds.
