In the rollercoaster world of Bay Area startups, another tech dream might be heading for the scrapyard. Monarch Tractor, the autonomous electric tractor company that once promised to revolutionize farming, is now staring down the barrel of potential shutdown.

The company, founded in 2018 by tech and wine royalty (think Tesla alum and a Mondavi descendant), has been riding a wave of venture capital, raising a cool $220 million. But now, things are looking less sunny than a Napa Valley afternoon.

The Rise and Potential Fall

Monarch warned its employees that they might need to lay off up to 102 workers and could potentially shut down completely. This comes after already trimming staff at their California HQ and international offices in India and Singapore.

Software Pivot or Desperation Move?

In a classic Silicon Valley move, Monarch is attempting to pivot from hardware to software, promising “software as a service” autonomy solutions. But with a lawsuit from an Idaho dealership claiming their tractors can’t even operate autonomously, this pivot looks more like a Hail Mary than a strategic maneuver.

The Writing on the Wall

The startup has already lost its contract manufacturer, Foxconn, and top talent like co-founder Mark Schwager is jumping ship. With only around 500 tractors shipped and mounting challenges, Monarch’s autonomous farming dream might be heading to the great startup graveyard in the sky.

Stay tuned, tech vultures – this story is far from over.