Trimble’s corporate venture capital fund Trimble Ventures, announced its investment in Monarch Tractor, the U.S.-based maker of the world’s first fully electric, autonomous compact smart tractor platform.
According to Trimble Ventures the investment supports its mission to invest in early and growth-stage companies that are accelerating innovation and digital transformation in the industries Trimble serves – such as agriculture, construction, geospatial and transportation. The investment terms were not disclosed.
Monarch Tractor combines electrification, automation, machine learning and data analysis to enhance a farmer’s existing operations, increase labour productivity and safety, and maximise yields to cut overhead costs and emissions.
“We are focused on investing in companies that are solving important problems in markets that align with Trimble’s mission of transforming the way the world works,” said Phil Sawarynski, managing director and co-head, Trimble Ventures. “Monarch Tractor is a technology pioneer, offering an electric autonomous smart tractor platform that empowers sustainable farming, increases efficiency and maximizes profitability for farmers. This is an exciting opportunity to help accelerate innovation, digital transformation and bring new solutions to the agriculture industry.”
Earlier, CNH Industrial entered into an exclusive, multi-year licensing agreement for electrification technologies with Monarch Tractor.