Lates News

According to informed sources, Caterpillar Inc. has acquired the autonomous electric tractor startup company Monarch Tractor. Monarch Tractor faced challenges in expanding its business and had to lay off employees in recent months before its technology was acquired by "a large global equipment manufacturer." Prior to the acquisition, Monarch Tractor had raised a total of $251 million from investors including Astanor Ventures, At One Ventures, and the affiliated fund HH-CTBC Partnership L.P. under Foxconn (Reuters).