Halter, a New Zealand-based startup developing ranch automation technology, announced a $100 million Series D funding round led by Bond Ventures.
The company provides a digital operating system for farms and ranches, utilizing a mobile application and solar-powered smart collars for cattle. These collars, combined with connectivity towers, enable "virtual fencing," allowing farmers to manage cattle movement and optimize grazing. The technology aims to improve efficiency and reduce environmental impact.
The global cattle industry generates over $1.57 trillion in annual revenue, and in the US, faces challenges, including an aging workforce and labor shortages. Halter's technology addresses these issues by automating aspects of herd management.
"Halter enables smaller teams to manage herds more efficiently, without constant physical presence," commented Craig Piggot, Founder and Chief Executive at Halter.
The company plans to use the capital to expand its operations within the U.S. farming industry. Halter currently employs over 200 people across New Zealand, Australia, and the United States, working with approximately 150 ranchers in 18 US states.
The company's technology has already seen adoption in Australia.
Halter competes with several companies, like SmartBow utilize sensor technology for cattle monitoring, while other firms focus on automated feeding systems or data analytics for herd management.
Participating investors included Bessemer Venture Partners, DCVC, Blackbird, and Icehouse Ventures. This funding round values Halter at $1 billion.
