# Monarch Tractor

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/monarch-tractor

- Industry: Agribusiness
- Headquarters: Livermore, US
- Website: www.monarchtractor.com
- Total disclosed funding: $185M
- Latest round: Series C (Jun 28, 2024)
- Investors on record: 11

## About

Based in California, US, and founded in 2017, Zimeno, Inc., doing business as Monarch operates as a tractor technology company that offers a range of smart electric tractors that offer sustainable farm management and actionable data-driven farming insights. The company was co-founded by CEO Praveen Penmetsa, CFO Carlo Mondavi, President Mark Schwager, and CTO Zachary Omohundro. In July 2024, Monarch Tractor raised USD 133 million in Series C funding co-led by Astanor Ventures and CTBC Venture Capital, with participation from At One Ventures, PMV, and The Welvaartsfonds.

Zimeno, Inc. runs on artificial intelligence that can operate without a driver. The tractor is equipped with sensors and cameras to implement, identify and eliminate plant ailments and estimate yields that enable farmers to enhance the existing growing operations, reduce costs, and increase the yield.

The Monarch MK-V tractor is an electric, autonomous vehicle that is driver-optional and integrates data-driven features for improved farm management. The MK-V helps reduce operational costs and offers increased productivity with autonomous operations. Moreover, Monarch's WingspanAI app provides real-time remote monitoring and control of tractor operations, performance analytics, and maintenance diagnostics. The tractor is suitable for various farming environments, including vineyards, orchards, and dairy farms, and is designed to promote safety, reduce emissions, and optimize farm profitability.

Monarch offers two pricing plans for its WingspanAI solutions: Monarch Connect at USD199/month per tractor for real-time alerts and insights, and Monarch Automate at USD 699/month per tractor for automated operations.


The company intends to use the July 2024 funding to expand digital solutions and artificial intelligence applications.

## Funding rounds

- Series C, Jun 28, 2024, $152M — PMV, CTBC Venture Capital, Astanor Ventures, At One Ventures, The Welvaartsfonds
- Series B, Aug 16, 2021, $31M — Gaingels, Astanor Ventures, At One Ventures, Trimble Ventures, CNH Industrial Ventures
- Series A, Jan 15, 2021, $1.8M — MUUS, At One Ventures, Musashi Seimitsu Industry, CNH Industrial Ventures, VST Tillers Tractors Ltd

## Investors

- MUUS (https://capitalatlas.ai/funds/muus) — Series A
- At One Ventures (https://capitalatlas.ai/funds/at-one-ventures) — Series A, Series B, Series C
- Musashi Seimitsu Industry — Series A
- CNH Industrial Ventures (https://capitalatlas.ai/funds/cnh-industrial-ventures) — Series A, Series B
- VST Tillers Tractors Ltd — Series A
- Gaingels (https://capitalatlas.ai/funds/gaingels) — Series B
- Astanor Ventures (https://capitalatlas.ai/funds/astanor-ventures) — Series B, Series C
- Trimble Ventures (https://capitalatlas.ai/funds/trimble-ventures) — Series B
- PMV (https://capitalatlas.ai/funds/pmv) — Series C
- CTBC Venture Capital (https://capitalatlas.ai/funds/ctbc-venture-capital) — Series C
- The Welvaartsfonds — Series C