LIVERMORE, Calif. (Diya TV) — A once-promising agricultural technology startup that aimed to transform farming with artificial intelligence and electric vehicles appears to have collapsed after burning through hundreds of millions of dollars. Monarch Tractor, based in California’s Bay Area, has laid off nearly all of its employees and abandoned its headquarters in Livermore. The company had raised more than $240 million to develop self-driving, electric tractors designed to modernize farming and reduce reliance on chemicals.
Monarch Tractor launched its flagship AI-powered tractor in 2023. That same year, Time magazine named it one of the year’s greatest inventions. Forbes predicted the company could become a billion-dollar startup. At its peak, the company was valued at $518 million.
The startup promised to revolutionize agriculture. Its tractors are aimed at handling tasks such as weed control and crop monitoring without human drivers. The company targeted vineyards and organic farms, where labor-intensive practices often replace chemical pesticides…