Total amount raised
$214 Million
Latest funding date
8/1/2024
Location
Monarch Tractor has successfully raised funding over six rounds, attracting a diverse group of 15 investors, including Gaingels and the California Energy Commission. The company specializes in designing and manufacturing fully electric and autonomous tractors for the agricultural sector.
Keep reading to explore the intricacies of Monarch Tractor's fundraising journey and the investors backing this innovative platform.
What Is Monarch Tractor?
Monarch Tractor, based in Livermore, California, is a pioneering company in the agricultural technology sector. They specialize in designing and manufacturing fully electric and autonomous tractors aimed at enhancing farm profitability and sustainability.
With an employee count ranging from 251 to 500, Monarch Tractor operates in multiple industries, including agriculture, agtech, automotive, electric vehicles, farming, and machinery manufacturing. Their flagship product, the MK-V tractor, is 100% electric, driver-optional, and data-driven, designed to meet the modern challenges of farming.
How Much Funding Has Monarch Tractor Raised?
- Series A
- Amount Raised: USD 20,000,000
- Date: March 2021
- Lead Investors: CNH Industrial, Musashi Seimitsu Industry, V.S.T. Tillers Tractors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and launch their flagship product, the MK-V tractor.
- Series B
- Amount Raised: USD 61,000,000
- Date: November 2021
- Lead Investors: Astanor Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale production and expand market reach.
- Series B
- Amount Raised: Not publicly disclosed
- Date: August 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing product development and market expansion.
- Series C
- Amount Raised: USD 133,000,000
- Date: July 2024
- Lead Investors: Astanor Ventures, HH-CTBC Partnership
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop AI technology and expand sales operations.
- Grant
- Amount Raised: Not publicly disclosed
- Date: August 2024
- Lead Investors: California Energy Commission
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support sustainable energy initiatives in agriculture.
- Series Unknown
- Amount Raised: USD 16,942
- Date: July 2025
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fund ongoing operational needs.
Total Amount Raised: USD 214,016,942. Current Valuation: Not publicly disclosed.
Key Investors
- Gaingels
- Details: Gaingels is an investment network that focuses on promoting diversity and inclusion within the companies they invest in.
- Investment Focus Areas: Technology, healthcare, consumer goods
- Notable Investments: Not specified
- California Energy Commission
- Details: The California Energy Commission is a state agency that focuses on energy policy and planning, promoting energy efficiency, and supporting renewable energy projects.
- Investment Focus Areas: Energy efficiency, renewable energy, clean technology
- Notable Investments: Various projects aimed at reducing greenhouse gas emissions
- Astanor Ventures
- Details: Astanor Ventures is a venture capital firm that invests in companies focused on sustainable agriculture and food technology.
- Investment Focus Areas: Sustainable agriculture, food technology
- Notable Investments: Infarm, Ynsect, Apeel Sciences
- Foxconn Co-GP Fund
- Details: Foxconn Co-GP Fund is an investment fund that focuses on technology and manufacturing sectors.
- Investment Focus Areas: Technology, manufacturing
- Notable Investments: Various tech startups and manufacturing companies
- CNH Industrial
- Details: CNH Industrial is a global leader in the capital goods sector, specializing in agricultural and construction equipment.
- Investment Focus Areas: Capital goods, agricultural equipment, construction equipment
- Notable Investments: Various companies within the industrial and agricultural sectors
What's Next for Monarch Tractor?
Monarch Tractor stands at the cusp of significant growth, driven by the development of AI technology and the expansion of their electric, autonomous tractors. With $133 million raised in their latest funding round, the company is poised to enhance their MK-V model and broaden their market reach. The potential to reduce diesel use and increase farming efficiency presents a substantial opportunity, supported by federal and state subsidies for sustainable farming technologies.
Future fundraising could be on the horizon as Monarch Tractor scales operations and explores new global markets. However, challenges such as convincing farmers to adopt new technologies and competing with other companies in the agricultural tech sector remain. Ensuring the reliability and effectiveness of their AI and autonomous systems will be crucial as they navigate these hurdles.
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