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

Rhea-AI Summary

Trimble Ventures, the corporate venture capital fund of Trimble (NASDAQ: TRMB), announced its investment in Monarch Tractor, the first fully electric autonomous smart tractor platform. This investment aligns with Trimble's strategy of supporting innovation in sectors like agriculture. Monarch Tractor aims to address challenges such as labor shortages and sustainability in farming through advanced technology. Phil Sawarynski, managing director at Trimble Ventures, highlighted the importance of this opportunity for enhancing farming efficiency and profitability.

Positive

• Investment in Monarch Tractor supports innovation in agriculture.
• Monarch Tractor provides solutions for labor shortages and sustainability.
• The investment aligns with Trimble's mission to transform industries.

Negative

• None.

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

FAQ

What is Trimble's recent investment announcement involving TRMB?

Trimble Ventures has invested in Monarch Tractor, the first fully electric autonomous smart tractor.

How does Monarch Tractor contribute to farming sustainability?

Monarch Tractor enhances productivity and sustainability by addressing labor shortages and maximizing yields.

When did Trimble announce its investment in Monarch Tractor?

The investment was announced on November 17, 2021.

What are the goals of Trimble Ventures?

Trimble Ventures aims to invest in companies that drive innovation in agriculture, construction, geospatial, and transportation.

What is the significance of Trimble's investment in Monarch Tractor for shareholders?

The investment signifies Trimble's commitment to enhancing its portfolio and could drive future growth in agricultural technology.