Monarch Tractor Named to Fast Company's World’s Most Innovative Companies of 2024

LIVERMORE, Calif. – March 19, 2024 – Monarch Tractor has been named to Fast Company’s prestigious list of the World’s Most Innovative Companies of 2024, earning the number one position in the Agriculture category. As one of the World’s Most Innovative Companies of 2024, Monarch Tractor joins the ranks of Nvidia, YouTube, Taco Bell, and more.  

This year’s list shines a spotlight on businesses that are shaping industry and culture through their innovations. These organizations are setting new standards and achieving remarkable milestones in all sectors of the economy. Alongside the World's 50 Most Innovative Companies, Fast Company recognizes 606 organizations across 58 sectors and regions. Brendan Vaughan, editor-in-chief of Fast Company, describes being named to the Annual List of the World’s Most Innovative Companies as the highest honor Fast Company bestows on the companies it covers.  

#1 in Agriculture 

Of the nine categories that make up Fast Company’s World’s Most Innovative Companies of 2024, the enterprises that made the top 50 in Agriculture are those that are improving how to feed the world with less stress on the planet. By partnering with the world’s farmers, listening to their needs, and engineering solutions that help them, Monarch Tractor’s innovations are working towards long-term gains for farmers, consumers, and the planet all while supporting a healthier global food ecosystem.  

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Our tractor can not only reduce emissions, help farmers be more profitable in respect to labor, but also create a positive flywheel effect. What we are trying to do here is change the statement, ‘There is no future in farming,’ to ‘There is a future, it’s highly profitable and sustainable from a farm community standpoint all the way to the planet.

Praveen Penmetsa, CEO & Co-founder, Monarch Tractor 

By pairing electrification with autonomy and Monarch’s innovative Wingspan Ag Intelligence  (WingspanAI) technology, the 100% electric, driver-optional, and smart MK-V tractor changes the game for farmers, elevating profitability, safety, and long-term farm viability. Instead of relying on costly, toxic herbicides to control weeds, farmers can mow without the associated labor costs and carbon emissions that come from multiple passes with the tractor. Farmers also gain increased reporting and real-time visibility into operations through the WingspanAI app on their computer or smart device empowering them to make efficient, strategic decisions based on data. Equipped with safety features like collision prevention, human detection, and PTO protection, the zero emissions MK-V addresses tractor-related injuries and operator chemical exposure.  

Monarch Tractor WingspanAIMilestones like this are a testament to the unwavering support from Monarch’s customers. By pushing the boundaries of what’s possible with a tractor along with Monarch’s partnership with the farming community allows Monarch’s engineers to continue learning, developing, and refining its product and systems. 

World’s Most Innovative Companies 

The World's Most Innovative Companies stands as Fast Company's hallmark franchise and one of its most anticipated editorial efforts of the year.  

Fast Company's editors and writers identified the companies driving progress around the world and across industries, evaluating thousands of submissions through a competitive application process. The result is a globe-spanning guide to innovation today, from early-stage startups to some of the most valuable companies in the world. Fast Company’s Most Innovative Companies package is available online, as well as in-app form via iTunes, and on newsstands beginning March 26. The hashtag is #FCMostInnovative. 

“Our list of the Most Innovative Companies is both a comprehensive look at the innovation economy and a snapshot of the business trends that defined the year,” said Fast Company editor-in-chief Brendan Vaughan. “We saw extraordinary innovation across the board in 2023, but we also saw a handful of clear patterns: the growing footprint and impact of AI, the triumphant return of live events, and great leaps forward in climate tech. We face daunting challenges on many fronts, but the solutions we celebrate in MIC give me plenty of hope about the future.” 

Fast Company will host the Most Innovative Companies Summit and Gala on May 16. The summit features a morning and afternoon of inspiring content, followed by a creative black-tie gala including networking, a seated dinner, and an honoree presentation. This event celebrates the Most Innovative Companies honorees and provides an inside look at cutting-edge business trends and what it takes to innovate in 2024.  

About Monarch Tractor  

Founded in 2018, Monarch Tractor’s MK-V is the world’s first fully electric, driver-optional, smart tractor that combines electrification, automation, machine learning, and data analysis to enhance farmer’s existing operations, cut overhead costs, reduce emissions, increase labor productivity, and improve safety. Monarch Tractor 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.  

MK-V tractor is the future of farming.  

About Fast Company  

Fast Company is the only media brand fully dedicated to the vital intersection of business, innovation, and design, engaging the most influential leaders, companies, and thinkers on the future of business. Headquartered in New York City, Fast Company is published by Mansueto Ventures LLC, along with our sister publication Inc., and can be found online at


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