Leading Archives - North America FarmQuip Magazine

Monarch Tractor Secures $61M in Series B Funding

Michele Catinari — Fri, 03 Dec 2021 19:00:22 +0000

Monarch Tractor announced the successful completion of a $61M Series B funding round led by Astanor Ventures, one of the world’s leading sustainable food venture firms, with additional individual and independent contributions from CNH Industrial, At One Ventures, and Trimble Ventures. With this most recent round of financing, Monarch Tractor will be scaling its sales, service, and manufacturing footprint; expanding its product offerings; and launching international pilot test programs for regional market validation.

“Fruit and vegetable farmers have long been ignored in the electrification and automation movement, and that’s why the Monarch platform is built with them in mind. Due to the ever-increasing labor challenges, sustainability concerns, and food traceability and scrutiny issues farmers face, we have experienced great demand for the unique solutions Monarch Tractor offers,”

said Praveen Penmetsa, co-founder & CEO, Monarch Tractor.

Monarch Tractor unlocks the potential for specialty crop farmers to achieve both their economic and sustainability goals. This has led to growing interest from farmers and increased support from the investment community, allowing Monarch to scale production and expand manufacturing space in preparation to meet global demand. Additionally, it provides Monarch with the ability to expand the company’s footprint globally into South America, Europe, and Asia for international pilot testing programs.

“Monarch is transforming what is arguably the most important vehicle on the planet: tractors. Tractors emit 14x more than a car and have not seen the same wave of digital innovation as we have seen in the automobile industry. Beyond delivering an affordable, clean and autonomous solution, Monarch‘s tractors capture detailed on-farm data to enable the sustainable and efficient farms of the future,”

said Hendrik Van Asbroeck, partner at Astanor Ventures.

Source: Monarch Tractor

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Daimler Trucks Announces New Leadership for On-Highway Market Development

Michele Catinari — Mon, 21 Jun 2021 15:00:37 +0000

Daimler Trucks has named Steve Mignardi to the position of vice president, on-highway market development, effective immediately.

“We are pleased to have Steve in his new leadership position. His depth of experience in the industry and at DTNA is invaluable and we are looking forward to seeing what he will accomplish next,”

said Kary Schaefer, general manager, product strategy and market development, DTNA.

In his new role, Mignardi will coach and lead a team to strategically position and promote DTNA’s products in the on-highway market segment to meet sales, market, and profitability targets. Responsibilities include segment strategy, product marketing, brand strategy, marketing communications, and sales training for Freightliner, Western Star, as well as the Detroit on-highway segment.

Mignardi is a 30-year veteran of Daimler, having first joined in 1988, and has continually been at the forefront of innovation for the sales organization. During his tenure, he has held various roles within Freightliner, Mercedes-Benz Mexico, and DTNA.

In his various roles, he has provided industry-leading account management for the nation’s largest truck customers. Since 2008 he has served as the director of national accounts at DTNA where he spearheaded new truck sales, key account management, and customer experience strategies, as well as overseeing sales and strategic planning for DTNA’s direct and national fleets. Mignardi was also heavily involved in the management of DTNA’s Innovation Fleet of electric vehicles.

Mignardi is based in Fort Mill, South Carolina, and holds a Bachelor of Business Administration and Management.

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