Monarch Tractor

Claims ledger

Public, dated claims by Monarch Tractor, each tracked against the evidence. Status is a DEPLOY assessment from primary sources: verified means an independent source confirms it; contradicted means one refutes it; open means the outcome is not yet determinable. Every entry keeps its verbatim quote and source so you can check the call yourself.

• VerifiedCustomer · claimed 2026-04-14

  “Monarch Tractor Shuts Down Operations”

  Company confirmed shutdown via social media post. Assets acquired by Caterpillar. The MK-V was a verified autonomous product but the company failed to achieve commercial scale and shut down in April 2026.

  claim sourcecite this claim
• VerifiedCapability · claimed 2026-01-01

  “The world's first driver-optional, data driven, and 100% electric tractor”

  The MK-V was the world's first driver-optional electric tractor. This "first" claim is verified — no other company produced a driver-optional electric tractor before Monarch. However, the company is now defunct. https://www.monarchtractor.com/

  claim sourcestatus evidencecite this claim
• ContradictedCapacity · claimed 2023-01-01 · deadline 2024-12-31

  “The company expects to sell as many as 2,000 tractors by end of next year”

  Monarch never reached 2,000 tractors. Revenue was ~$112M projected for 2024 (Forbes), but Caterpillar acquired Monarch, ending independent operations.

  claim sourcestatus evidencecite this claim

Disagree with a status? Monarch Tractor can submit a correction with evidence and we log the response on the record. Methodology and the full industry ledger live at /stats/claim-integrity.

Founders (4)

• Praveen Penmetsacofounderfounded 2018-01-01no longer at company
• Mark Schwagercofounderfounded 2018-01-01no longer at company
• Zachary Omohundrocofounderfounded 2018-01-01no longer at company
• Carlo Mondavicofounderfounded 2018-01-01no longer at company

See all founders across the registry →

Former / Previously (4)

• Praveen Penmetsa Co-founder & CEOIR-verified
• Mark Schwager Co-founder & former PresidentIR-verified
• Zachary Omohundro Co-founder & CTOIR-verified
• Carlo Mondavi Co-founder & Chief Farming OfficerIR-verified

Safety record

Only active incidents are counted. Retracted incidents are excluded from this summary but remain reachable at their canonical URLs.

Incidents affecting Monarch Tractor (1)

• Monarch Tractor shuts down and sells assets to Caterpillar after raising 40M2026-04-08 · Other

Includes incidents linked directly to this company, to its models, or to deployments of its models or under its operation. Retracted incidents are excluded from this view but remain reachable at their canonical URLs.

Operator customers (1)

• Monarch Tractor6 deployments

Peer companies

• DJI7 models
• Naio Technologies4 models
• WORX Landroid4 models
• Carbon Robotics3 models
• Solinftec3 models
• AgriPass2 models

Supplied by (1)

Inbound supply edges feeding this company directly or via the models it owns. Same source bar as the outbound view (verified against at least two strong sources).

Financial state

Total funding

$220.0M

Employees

213

Reporting basis

private_reported

Lifecycle stage

wound_down

Counterparty risk class

high

Going concern

flaggedDefunct; assets/IP acquired by Caterpillar (Apr 2026).

Each numeric field carries its own basis marker. Aggregators report a number; this surface preserves the source class so verification depth travels with the value.

Funding rounds (1)

• Series C2025-01-01

  $133M(reported) · $1.3B post

See the full valuations ranking →

Acquisitions (1)

• acquired by Caterpillarasset purchase2026-04-01

Timeline

Every recorded move in Monarch Tractor’s history, most recent first: funding rounds, partnerships, acquisitions, supply-chain starts, key hires, and press.

1. 🔗

   New supplierNew supplier: LG Energy Solution

   2026-08-23

   Supply: Li-ion battery for electric tractor from LG Energy Solution

2. 🔗

   New supplierNew supplier: Qualcomm

   2026-08-23

   Supply: Snapdragon for connectivity from Qualcomm

3. 🔗

   New supplierNew supplier: NVIDIA

   2026-08-23

   Supply: Jetson for autonomous tractor vision from NVIDIA

4. 🤝

   PartnershipCaterpillar acquires Monarch Tractor assets

   2026-04-15

   Caterpillar acquired assets of Monarch Tractor after the self-driving electric tractor startup shut down. 69B Caterpillar acquiring autonomous tractor technology.

5. 🎯

   Acquired byAcquired by Caterpillar

   2026-04-01

   Acquired by Caterpillar (asset_purchase)

6. 💰

   Funding roundSeries C funding round

   2025-01-01

   Series C raising $133000000

7. 🤝

   PartnershipMonarch Tractor x Disney

   2024-01-01

   Monarch Tractor deployed its MK-V autonomous electric tractors at Disney World agricultural facilities, replacing diesel tractors with autonomous EVs for landscaping and grounds maintenance.

Recent activity

Every change to this record is dated, sourced, and independently verified where marked.

• Verified media added✓VerifiedJun 4, 2026

  Monarch Tractor MK-V launch

• Record createdJun 3, 2026

  Added to the verified registry

• Incident recordedApr 8, 2026

  Monarch Tractor shuts down and sells assets to Caterpillar after raising 40M

• Deployment recordedJan 1, 2026

  MK-V at Livermore, California, USA (RK Logistics)

• Deployment recordedJan 1, 2026

  MK-V at Healdsburg, California, USA (Foxhill Vineyard)

Full change history →

Sources (5)

1. https://techcrunch.com/2026/04/15/monarch-tractors-collapse-ends-in-with-an-acquisition-by-caterpillar/ ↗
2. https://techcrunch.com/2025/11/19/monarch-tractor-preps-for-layoffs-and-warns-employees-it-may-shut-down/ ↗
3. https://techcrunch.com/2025/08/13/monarch-tractors-wont-be-built-by-foxconn-after-ohio-factory-sale/ ↗
4. https://www.businesswire.com/news/home/20221201005455/en/ ↗
5. https://agfundernews.com/brief-monarch-tractor-bags-record-133m-eyes-global-expansion-for-its-all-electric-autonomous-machines ↗

Common questions