Monarch Tractor Named to 2022 CNBC Disruptor 50 List
Company places 20th in the annual list that recognizes private venture-backed companies that are transforming industries.May 17, 2022
LIVERMORE, Calif. – May 17, 2022 – Monarch Tractor, maker of the MK-V fully electric, driver-optional smart tractor, today announced it has been named to the 2022 CNBC Disruptor 50 list. The 10th annual list features “private companies that grew through the ups and downs of the pandemic and are poised to meet increasing economic and consumer challenges.” Monarch Tractor placed 20th on the list for its flagship MK-V tractor, the first to deliver a convergence of electrification, automation and data analysis that empowers sustainable farming, increases efficiency and safety, and maximizes profitability for farmers. To see the Monarch Tractor in action, watch this video.
"The compact tractor is a critical component to just about any successful farming operation. What we've done by incorporating electric, autonomous, and deep learning capabilities, has made the tractor even more vital," Praveen Penmetsa, co-founder & CEO, Monarch Tractor. "It is an honor to be named to this esteemed list alongside other companies that are disrupting the status quo and making an immediate impact across industries."
The CNBC Disruptor 50 Advisory Council, made up of a global group of 55 leading thinkers in the field of innovation and entrepreneurship, selected this year's recipients after a thorough review and ranking process. The criteria included scalability, user growth, sales growth, the use of breakthrough technologies, and more. Monarch was selected for its promise of "eliminating the need for diesel fuel, increasing farmworker efficiency and reducing commercial agriculture’s significant carbon footprint."
Monarch Tractor's 2022 CNBC Disruptor 50 list recognition is the latest in a series of honors and accolades the company has received including a CES 2022 Innovation Award Honoree in the Robotics category; "Overall AgTech Solution of the Year" in the 2021 AgTech Breakthrough Awards; a Golden Bridge Business and Innovation award in the AI category; a 2021 RBR50 Robotics Innovations Award; and a 2021 BIG Innovation Award from the Business Intelligence Group, among others.