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Classified in: Science and technology, Business
Subjects: FNC, VEN

Trimble Ventures Invests in Monarch Tractor--an Electric, Autonomous Smart Tractor Platform for Sustainable Farming

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.



SOURCE Trimble

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News published on 17 november 2021 at 09:38 and distributed by: