SUNNYVALE, Calif., Nov. 17, 2021 /PRNewswire/ -- Trimble Ventures,
Trimble's (NASDAQ: TRMB) corporate venture capital fund, announced
today its investment in Monarch Tractor. Monarch is a U.S.-based
agricultural technology company and maker of the world's first
fully electric, autonomous compact smart tractor platform that
empowers productive and sustainable farming. This investment
supports Trimble Ventures' 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.
Farmers today face numerous challenges including labor
shortages, weather, safety concerns, ensuring sustainability,
government regulations and more. Monarch Tractor addresses these
issues by combining electrification, automation, machine learning
and data analysis to enhance a farmer's existing operations,
increase labor productivity and safety, and maximize 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."
About Monarch Tractor
Monarch Tractor is working to utilize 21st-century technology to
empower farmers by enabling profitable implementation of
regenerative, sustainable and organic practices. Monarch Tractor,
the world's first fully electric, driver optional, smart tractor,
enhances farmer's existing operations, alleviating labor shortages
and maximizing yields. Monarch is committed to elevating farming
practices to enable clean, efficient and economically viable
solutions for today's farmers and the generations of farmers to
come. With cutting-edge technology, global reach and an experienced
team, Monarch is delivering meaningful change for the future of
farming. For more information, visit: www.monarchtractor.com.
For more information on Monarch Tractor's Series B Funding.
About Trimble Ventures
Launched in 2021, Trimble Ventures is a corporate venture
capital fund focused on investing in early and growth-stage
companies that align with Trimble's mission of transforming work in
the agriculture, construction, geospatial and transportation
industries. The fund deploys strategic capital to accelerate the
growth of innovative companies and partners that complement
Trimble's products, technology platforms and support its customer's
work. Trimble Ventures invests in companies with technologies and
solutions related to hardware and software applications; artificial
intelligence; augmented, virtual and mixed reality; autonomy and
robotics; blockchain; the Internet of Things (IoT) and analytics;
and sustainability.
For more information on Trimble Ventures, visit:
ventures.trimble.com.
About Trimble
Trimble is an industrial technology company transforming the way
the world works by delivering solutions that enable our customers
to thrive. Core technologies in positioning, modeling, connectivity
and data analytics connect the digital and physical worlds to
improve productivity, quality, safety, transparency and
sustainability. From purpose-built products to enterprise lifecycle
solutions, Trimble is transforming industries such as agriculture,
construction, geospatial and transportation. For more information
about Trimble (NASDAQ:TRMB), visit: www.trimble.com.
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SOURCE Trimble