Official announcements from Monarch Tractor or credible news sources

Monarch Tractor Secures Record $133M Series C Funding for Expansion in Agricultural Robotics

Jul 22, 2024, 06:48 PM

Monarch Tractor, the maker of the MK-V, the world's first fully electric, driver-optional (autonomous), smart tractor, announced its expansion across the United States and Europe. The company, backed by TrajectoryVC, secured $133 million in Series C funding, marking the largest-ever raise in agricultural robotics. CEO Praveen Penmesta stated that the funding will help the company navigate through challenging times and support its growth in the agriculture EV AI robotics sector. Monarch Tractor had recently conducted a small round of layoffs before closing the funding round.