Spanish agritech startup Voltrac has secured €7 million in seed funding to accelerate the production of Thor, its fully electric, autonomous ground vehicle (UGV) designed for farm tasks. The funding round, led by Extantia, with participation from FoodLabs, Antler, PUSH, and Prototype Capital, follows an earlier €2 million pre-seed round in 2025. This investment will enable Voltrac to scale up production and further commercialise its innovative platform, positioning it as a formidable European alternative to both legacy agricultural equipment manufacturers and emerging Chinese competitors.
Unlike many autonomous farming solutions that retrofit existing diesel tractors, Voltrac took a different approach with Thor. Designed from the ground up, Thor boasts a 70% reduction in component count compared to traditional tractors. This streamlined design allows for three times the battery capacity of competitors, with fully swappable batteries that support continuous operation. Thor can haul up to 4 tonnes and is compatible with existing farm implements, including ploughs, seeders, and sprayers, minimising the capital investment required for farmers to adopt the technology.
Currently produced in Valencia, Spain, Voltrac aims to scale up production to 100 units per year by 2026. This milestone is expected to bring Thor to price parity with diesel tractors, eliminating the need for farmers to pay a “green premium” for sustainable technology. “They’re not asking farmers to pay a green premium,” said Yair Reem of Extantia. “Voltrac is already on track to undercut diesel platforms.”
Thor’s robust design and 4-tonne payload make it suitable for a range of applications beyond agriculture. The platform’s versatility has caught the attention of military units, with Voltrac preparing on-site trials for front-line logistics in conflict zones. This application is particularly relevant given that logistics account for more than half of casualties in Ukraine.
Investors see Thor as a European counterweight to both legacy original equipment manufacturers (OEMs) like John Deere and emerging players from China. The Honghu T70, launched this year in China, is one such competitor. “Thor outpaces anything coming from legacy players like John Deere and stands toe-to-toe with the most advanced Chinese platforms,” said Andreas Klinger of Prototype Capital. This positioning underscores the potential for Thor to disrupt the global agricultural equipment market and establish Voltrac as a key player in the transition to sustainable, autonomous farming.
As Voltrac ramps up production and commercialisation efforts, the agricultural industry watches closely. The success of Thor could set a precedent for other startups and established manufacturers looking to innovate in the agritech space. With its focus on sustainability, cost-efficiency, and versatility, Voltrac’s Thor is poised to make a significant impact on the future of farming.