Monarch Tractor announced that it has secured additional funding from Musashi Seimitsu Industry Co., Ltd. Musashi is an 80 year old company and engages in the manufacture and sale of transportation equipment such as vehicle engines, suspension, and steering parts and is a publicly traded company on the Nippon Stock exchange. The size of the investment was not announced.
Monarch states that the investment will be used for a variety of global business, marketing and R&D operations including product deployment, pilot programs and micro-factory creation. The Mobile Robot Guide covered the launch of the company in a recent article.
“The introduction of the Monarch Tractor has captured the attention of farmers across the world,” said Praveen Penmetsa, co-founder & CEO, Monarch Tractor. “This investment from Musashi will enable us to expand our reach, delivering our tractors globally and empowering farmers to adopt sustainable operations for generations to come.”
Monarch Tractor recently launched its flagship product, a new all-electric, standard-size tractor platform designed for the needs of small and medium sized farms around the world. The company is based in the San Francisco bay area and has roots in the Sonoma valley wine making region. The new tractor is designed to be more climate friendly and to provide a pathway for “smart farming” for farmers everywhere.
Musashi Seimitsu Industry Co., Ltd. has a broad product family. The company is looking to invest in innovative startups, and the Monarch Tractor company is one of their investments in electric vehicles and the growing agtech market. The industry is expected to surpass $126B by 2025, making it an attractive target for investors. Innovation is the key driver of this momentum as the digital transformation of farming will create major economic opportunities. Musashi Seimitsu Industry Co., Ltd. will also look for potential collaborations with Monarch Tractor in the fields of powertrain, battery system and AI technology.
“Monarch Tractor has quickly established itself as a technology leader in 21st century sustainable farming solutions,” said Hiroshi Otsuka, president & CEO, Musashi Seimitsu Industry Co., Ltd. “The company is positioned to be a major global agtech success and we’re excited to support Monarch on their journey.”
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