Monarch Tractor
Livermore, California developer of the MK-V electric, driver-optional smart tractor, whose technology was sold to a large equipment maker in 2026.
Monarch Tractor was co-founded by Praveen Penmetsa, its chief executive, with Mark Schwager, Carlo Mondavi and Zachary Omohundro, and is based in Livermore, California. It developed the MK-V, which it called the first fully electric, driver-optional smart tractor, together with the WingspanAI farm management software, and on 22 July 2024 said more than 400 of its tractors were deployed across 12 US states and three countries. On 16 March 2021 it closed a $20 million Series A led by Musashi Seimitsu Industry, CNH Industrial and VST Tillers Tractors, with At One Ventures and MUUS, and on 17 November 2021 it announced a $61 million Series B led by Astanor Ventures with CNH Industrial, At One Ventures and Trimble Ventures. On 22 July 2024 it announced a $133 million Series C co-led by Astanor and HH-CTBC Partnership, L.P., joined by At One Ventures, PMV and The Welvaartsfonds.
- Latest funding
- $133M
- Total funding
- $214M
- Latest valuation
- —
- Founded
- —
- Country
- United States
- Jul 22, 2024Series C$133M
- Nov 17, 2021Series B$61M
- Mar 16, 2021Series A$20M