Hyperdrive
Monarch Raises $61 Million for Its Fleet of Electric Tractors
The company making electric tractors for tasks on small farms gets more validation from CNH Industrial and Trimble.
Monarch Tractor vineyard test site in Livermore, CA.
Photographer: Cayce CliffordThis article is for subscribers only.
Monarch Tractor has raised another $61 million in capital, in its ongoing efforts to electrify farm equipment and disrupt the world’s largest and dirtiest diesel engines.
The latest fundraising round, announced by Monarch this morning, includes an undisclosed investments from CNH Industrial, an Italian-American manufacturer second only to Deere & Co. in the market for agricultural equipment, and the venture arm of Trimble Inc., a California-based technology giant specializing in GPS and location-based software.