Halter, a New Zealand tech company revolutionising farming with its virtual fencing and animal management system, has raised $165M in a Series D fundraising round, valuing it at $1.65billion (USD $1 billion).
The round was led by BOND, a global technology investment firm, with investment from NewView Capital, continued support from local investors Blackbird and Icehouse Ventures, and ongoing backing from Bessemer Venture Partners, DCVC and Promus Ventures.
Craig Piggott, CEO and founder of Halter (pictured above), says “Halter was built with our early farmers – we wouldn’t be here without them. We’re deeply grateful for their trust. This capital will help unlock productivity gains for even more farmers.”
An important milestone
The Halter system includes a solar-powered smart collar for each cow, towers for connectivity and an app that lets farmers manage their cattle and pasture from their phone.
Cattle are guided by the collar’s sound and vibration cues. Farmers can virtually fence, move and monitor their cattle 24/7.
“Halter farmers are more profitable and get better outcomes for the environment and their animals. Farmers use Halter to grow and harvest more grass, reduce workload, increase herd size, improve animal health and welfare and unlock environmental benefits,” says Piggott.
Piggott says the milestone highlights the importance of farming in society.
“Farmers are the backbone of rural communities. They feed society and play a key role in building sustainable food systems. Halter farmers are pioneering a more productive and sustainable way to farm.
“We’re delighted to partner with BOND and to welcome NewView, and we’re grateful for continued support from our investors who backed us early – we’re all aligned on our mission to support farmers.”
Expansion on the horizon
Daegwon Chae, general partner at Bond says that cattle-based products generate over $1 trillion annually.
“Farmers feed billions of people but are constrained by traditional bottlenecks of the offline economy – labour, time, and limited automation. Halter’s vision is ambitious and impactful, to build the digital operating system for farms and ranches globally, leveraging the cutting-edge of physically-enabled technology. We’re thrilled to partner with them.”
Piggott says: “Dairy and beef farming is a powerhouse of New Zealand’s economy, generating over $30 billion and nearly 30% of total exports each year.
“When our farmers thrive, so does our economy. This capital will help thousands more farmers increase productivity and deepen their enjoyment of farming, in turn driving economic growth.
“We’re investing in exciting product innovations, plus expansion throughout New Zealand, Australia and the US,” Piggott adds.
Halter was named the fastest growing company in New Zealand by the Deloitte Fast50 index, and is well positioned to continue expanding to meet demand across its markets.
“I’m really proud of our team – we’re passionate about supporting farmers and we’re excited about the journey ahead,” says Piggott.
