Autonomous electric tractor startup Monarch Tractor warned staff Thursday it may need to lay off more than 100 employees, or possibly even ‘shut down,’ according to a company-wide memo obtained by TechCrunch.

The memo comes after Monarch Tractor was already cutting some positions over the last few weeks at its California corporate facilities and remote teams in India and Singapore, according to multiple former employees who spoke with TechCrunch on the condition of anonymity.

Monarch Tractor was founded in 2018 by a team that included a former top executive at Tesla’s first gigafactory and Carlo Mondavi, a scion of the famous winemaking family. The company raised at least $220 million, including $133 million in 2024, as it pursued a goal of making “driver optional” autonomous tractors th

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