Agra Business | Monarch, Fermentalg, Noko Kombucha, Isigny-le-Buat
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According to information from Bloomberg, the construction machinery giant Caterpillar acquired the autonomous electric tractor company Monarch a few weeks ago. The executives of this Californian start-up had announced a month ago that they were making a pivot to "move from manufacturing to a technology licensing model." In other words, this is the end of Monarch as a tractor manufacturer. Its technologies are expected to be integrated into Caterpillar group machinery. In 2024, the start-up had completed a Series C funding round for a record amount in the sector, of 133 million dollars (122.5 million euros) to accelerate the development of its MK-V autonomous electric tractor. According to the company, this transaction was "the largest fundraising in the history of agricultural robotics." Since the launch of the first unit in late 2022, 400 tractors had then been deployed in various agricultural markets such as vineyards, dairy farms, berries, and orchards, essentially in the United States. Nearly 4 million euros have been mobilized to develop the kombucha production business of the Brasserie du Pays flamand in Merville (Nord), marketed under the Noko brand, a contraction of nord and kombucha. The financing involves banking partners and investors: the Hauts-de-France Avenir TPE-PME fund is contributing 100,000 euros, alongside Finorpa SCR with 400,000 euros. "The project also...
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