'The Android of agriculture': Monarch Tractor CEO Praveen Penmetsa on the future of farming
Sep 30, 2023
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Praveen Penmetsa, Monarch Tractor CEO, discusses how they aim to make farming sustainable and profitable through electric and autonomous tractors, addressing challenges like durability and safety. They explore the potential for existing tractor drivers to transition into supervisory roles and the benefits of their swappable battery and upgradeable roof system. The conversation also delves into the challenges of transitioning to electric tractors, control and data collection capabilities, right to repair legislation, and the positive impact of data collection and AI on farming operations.
Monarch Tractor aims to provide a small, electric, autonomous, and smart tractor targeted towards fruit and vegetable farmers, enabling them to transition to electric autonomous equipment without disrupting their agricultural cycles.
Monarch Tractor aspires to be the 'Android of agriculture' by creating an open ecosystem for smart agriculture machines, providing data accessibility to the entire food ecosystem, and competing with closed platforms like John Deere.
Deep dives
The Importance of Electrifying Agriculture
In this podcast episode, Praveen Penmetsa, CEO of Monarch Tractor, discusses the significance of electrifying the agriculture industry. He highlights that farming is utterly reliant on tractors, and electrifying farms can be a challenge. However, Praveen believes that farms can transition to electric autonomous equipment without disrupting their agricultural cycles. He explains that Monarch Tractor aims to provide a small, electric, autonomous, and smart tractor targeted towards fruit and vegetable farmers. By collecting data from the tractor's operations, Monarch enables farmers to generate new revenue streams. Praveen emphasizes the importance of providing value to farmers from day one to ensure their adoption of electric tractors.
Revenue Streams for Monarch Tractor
Praveen Penmetsa explains the revenue streams for Monarch Tractor. They sell the tractors themselves, offer digital subscriptions to their connect and automate platforms, and have licensing deals with tractor companies like Case New Holland. The goal is to compete with closed platforms like John Deere and create an open ecosystem for smart agriculture machines. Praveen envisions Monarch Tractor as the 'Android of agriculture' and aims to provide data accessibility to the entire food ecosystem, not just farmers. He emphasizes the significant market potential for smart farming machines, both in terms of increasing sales and attracting new entrants from various sectors of the food industry.
Addressing Challenges and Opportunities
During the podcast, Praveen Penmetsa discusses the challenges and opportunities in developing and deploying autonomous electric tractors. He acknowledges the need for durability and robustness in agricultural machinery, considering the shock loads and movement tractors experience. Praveen mentions that leveraging existing developments in electric and autonomous platforms helps overcome safety challenges. He emphasizes Monarch Tractor's focus on ensuring the tractor's return on investment for farmers, with payback periods in months rather than years. Praveen also discusses infrastructure limitations and highlights how Monarch Tractor's triple play approach (tractor use, mobile gen set, and energy storage) helps farmers utilize solar power, reduce costs, and contribute to the energy transition in farming.
We spent a lot of time here on Decoder talking about electric vehicles and the future of cars and we’re usually talking about passenger vehicles or maybe cargo vans. But there’s another huge industry that can also reap the benefits of electrified transportation: agriculture.
I co-hosted the Code Conference this week where I had the opportunity to hangout onstage with Monarch Tractor CEO Praveen Penmetsa. Honestly, this was one of my favorite conversations of the entire event.
We are utterly reliant on farming as a species, and farming is utterly reliant on tractors. If we don’t have tractors, we don’t have food. But electrifying farms is hard, and Praveen explained how he and Monarch are trying to tackle that challenge. The ambition is to compete in an open way with closed platforms like John Deere, and Praveen said his goal for the Monarch platform is to be the Android of agriculture.