Funding
$133.0M
Models
1
Overview
Livermore, CA-based company behind the MK-V, the world's first fully electric autonomous smart tractor. Co-founded by CEO Praveen Penmetsa and Mark Schwager, Monarch Tractor raised 33M in Series C funding, the largest in agricultural robotics history, bringing total funding to over 40M at a 18M valuation. The MK-V is a driver-optional autonomous electric tractor for precision farming.
Verified record
- Verified deployments
- None on file
- Active incidents
- 1 incident on file
DEPLOY Intelligence
Market intelligence for physical AI
Analyst-grade signals, competitive tracking, and investment context across the global physical AI landscape. Launching 2026.
Key facts
Product
Wind-down
CEO
Co-founder
Series C
Total funding
Valuation
Applications
Operation modes
California CORE subsidy
Financial stage
Data & sources
Press releases
1
News coverage
3
Web sources
1
5 sources backing this record.View all →
Models (1)
View all models →Monarch Tractor on the deployment map
Where Monarch Tractor's robots are verified operating. Explore the deployment map by place and type.
Relationships
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.
- 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/
- 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.
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
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.
Full safety record: incidents, sourcing, and exposure data →
Incidents affecting Monarch Tractor (1)
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.
Recent coverage
Monarch Tractor in third-party press
Peer companies
- DJI7 models
- Naio Technologies4 models
- WORX Landroid4 models
- Carbon Robotics3 models
- GreenField Robotics2 models
- HG Robotics2 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
- 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.
Partnerships (2)
- Monarch Tractor x Disney with The Walt Disney Companydeployment
- Caterpillar acquires Monarch Tractor assets with Caterpillartechnologyconcluded
Funding rounds (1)
- Series C2025-01-01
$133M(reported)
Acquisitions (1)
- acquired by Caterpillarasset purchase
Recent activity
Every change to this record is dated, sourced, and independently verified where marked.
- Verified media addedVerifiedJun 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 verifiedVerifiedDec 1, 2022
MK-V at Oakville
- Deployment verifiedVerifiedApr 23, 2021
MK-V at Livermore
Sources (5)
- https://techcrunch.com/2026/04/15/monarch-tractors-collapse-ends-in-with-an-acquisition-by-caterpillar/
- https://techcrunch.com/2025/11/19/monarch-tractor-preps-for-layoffs-and-warns-employees-it-may-shut-down/
- https://techcrunch.com/2025/08/13/monarch-tractors-wont-be-built-by-foxconn-after-ohio-factory-sale/
- https://www.businesswire.com/news/home/20221201005455/en/
- https://agfundernews.com/brief-monarch-tractor-bags-record-133m-eyes-global-expansion-for-its-all-electric-autonomous-machines
Common questions
- What is Monarch Tractor?
- Livermore, CA-based company behind the MK-V, the world's first fully electric autonomous smart tractor. Co-founded by CEO Praveen Penmetsa and Mark Schwager, Monarch Tractor raised 33M in Series C funding, the largest in agricultural robotics history, bringing total funding to over 40M at a 18M valuation. The MK-V is a driver-optional autonomous electric tractor for precision farming.
- What does Monarch Tractor make?
- Monarch Tractor has 1 robot model on the DEPLOY registry: MK-V (Monarch Tractor builds both physical robots and the AI that runs them).
- Is Monarch Tractor publicly traded?
- Monarch Tractor is not independently listed on public markets; it is part of Caterpillar (Apr 2026 on the DEPLOY registry.
- Who competes with Monarch Tractor?
- On the DEPLOY registry, peer companies to Monarch Tractor building in the same form factors include DJI, Naio Technologies, WORX Landroid, Carbon Robotics.
- Who is the CEO of Monarch Tractor?
- Praveen Penmetsa is the ceo of Monarch Tractor, per the DEPLOY registry.
- How can I invest in Monarch Tractor?
- Monarch Tractor has no separately traded stock; it is owned by Caterpillar (Apr 2026 (the parent is the entity that trades, where it is public).
- Where is Monarch Tractor headquartered?
- Monarch Tractor is headquartered in Livermore, CA.
- How much funding has Monarch Tractor raised?
- Monarch Tractor has raised approximately $133M in disclosed funding on record in the DEPLOY registry.
- Who owns Monarch Tractor?
- Monarch Tractor is owned by Caterpillar (Apr 2026, per the DEPLOY registry.
- Where does Monarch Tractor operate robots?
- Monarch Tractor is a robot manufacturer and does not directly operate deployments on the DEPLOY registry. Its products are deployed by customer operators; see the company page for the verified deployment record.
- Is Monarch Tractor a top robotics company?
- On DEPLOY's intelligence score, which blends verified deployments, funding, hiring, media, safety, and IP signals, Monarch Tractor ranks in roughly the top 38% of companies tracked by the registry.
- When was Monarch Tractor founded?
- Monarch Tractor was founded in 2018.
- Are there any incidents involving Monarch Tractor?
- 1 active incident involving Monarch Tractor is on the DEPLOY registry. Each is a sourced, append-only record; retracted incidents are suppressed from this view.
- Is Monarch Tractor safe?
- Monarch Tractor has 1 active incident on record in the DEPLOY registry. 1 incident on record (1 serious). Most recent: Apr 2026. Retracted incidents are excluded from this count.
Methodology: Verified · 5 sources (1 primary) · last reviewed 2026-07-18
Verification posture
Verified
High confidence
Review state
Stable
Last reviewed 2026-07-18
Sources by quality tier
- 3
- secondary-industry-publication
- Industry publication
- 1
- primary-company-ir
- Company IR disclosure
- 1
- unclassified
- Unclassified source
The framework is documented at /methodology. Corrections at /corrections. Reviewer: DEPLOY editorial team.
Methodology surface for Monarch Tractor.Peer companies
- DJI7 models
- Naio Technologies4 models
- WORX Landroid4 models
- Carbon Robotics3 models
- GreenField Robotics2 models
- HG Robotics2 models
In the press
Recent coverage mentioning Monarch Tractor from third-party publications. Automatically surfaced; not part of the verified registry record.
Monarch Tractor's collapse ends with acquisition by Caterpillar
Monarch Tractor's assets acquired by Caterpillar after struggling to commercialize. Shut down operations in 2026 citing financial strain and technology challenges.
Monarch Tractor shuts down after raising 40M
Monarch Tractor, once valued at over 00M, shut down after raising 40M in venture capital. Assets sold to Caterpillar per reports.
Monarch Tractor Announces 33M Series C Funding - Largest Ever in Agricultural Robotics
Monarch Tractor raised 33M in Series C, the largest funding round in agricultural robotics history, led by CEO Praveen Penmetsa.
CORE 2025: Farmers & Municipalities Eligible for Massive Savings on Monarch Tractors
Under the California CORE program, Monarch's MK-V and MK-V Dairy tractors are eligible for up to $68,750 in savings off retail price, supporting zero-emission agricultural…
MK-V: An Autonomous Electric Tractor
The Monarch MK-V is the world's first electric autonomous tractor, designed for vineyards, orchards, dairies, and farms. Features in-seat or autonomous operation modes with…
Machine-readable surfaces
- Markdown mirror: /companies/monarch-tractor.md
- RSS feed: /companies/monarch-tractor/feed.xml
- JSON-LD: embedded in this page’s head
- REST API: /v1/companies/dd089d64-e9c3-419d-8c43-896bfb6be47c
- Revision history: /companies/monarch-tractor/history
- Data documentation: /data
- Query this programmatically: Deploy MCP
Peer companies
- DJI7 models
- Naio Technologies4 models
- WORX Landroid4 models
- Carbon Robotics3 models
- GreenField Robotics2 models
- HG Robotics2 models
Video
Highlighted on International Forum of Agricultural Robotics (FIRA) Panel, Monarch Tractor’s CEO, Praveen Penmetsa, discusses the creative process behind the wor
Reality vs attention
Monarch Tractor draws attention at the 21st percentile but verifies reality at the 68th percentile among ag robots. Hype Gap -46.1, 17th widest among ag robots.
6-month trend
Analysis
Safety profile within acceptable range for category. Limited public visibility and press coverage relative to peers.
Signal flags
Dimension breakdown
Verified signal
Attention (reach, not merit)
DEPLOY Intelligence scores are computed from verified registry data: confirmed deployments, disclosed funding rounds, regulatory filings, active job listings, video viewership, and press coverage. Confidence ratings reflect data availability. Scores update nightly.
DEPLOY Indices — verified vs claimed
Last computed: Jul 18, 2026