New Zealand based agtech company, Halter, has completed a $314.5 million Series E funding round, achieving a new $2.86 billion valuation. The company plans to use the funding to expand commercialisation of its virtual fencing and animal management system in Australia and the United States.
The round was led by a Series A investor in Halter, US-based Founders Fund, with participation from Halter’s other existing investors including Australia’s Blackbird, Icehouse Ventures in New Zealand, and DCVC, Bond, Bessemer, Promus, Ubiquity and NewView in the United States.
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 remotely from their phone. Cows are guided by sound, vibration and electric cues. Farmers can virtually fence, shift and monitor their cattle 24/7, reducing labour and boosting productivity.
Halter serves more than 2000 farmers and ranchers across Australia, New Zealand and the United States, and has sold one million of its GPS-enabled collars for beef and dairy cows. Additional market access was recently granted in the Australian states of Victoria and New South Wales.
The company’s recent raise is one of the largest single funding rounds for an agtech company globally, and reflects growing demand and access for virtual fencing across Australia, New Zealand and the United States.
Halter founder and CEO, Craig Piggott, said the capital raise and new valuation reflect the company's success and ambitions.
“We want to use innovation to fundamentally change what it means to run a farm. Farmers have embraced Halter because it allows them to be more productive, efficient and profitable. This raise will allow us to keep innovating and delivering for farmers,” said Piggott.
“Farmers are the backbone of rural communities and the Australian economy. We’re proud to support them with world-leading technology.”
Halter will deploy the new capital to grow its commercial and field operations across Australia, New Zealand, and the US while expanding into other international markets, starting with Ireland and the UK later this year. The company already has early farms in Canada and is also exploring further expansion in North and South America this year.
Investment will continue across product development, including animal health monitoring and pasture management, shaped by how customers are using the system in the field. The focus remains on supporting farmers building their operations with Halter.
Halter plans to hire an additional 200-plus people – its largest-ever recruitment – with a focus on product, engineering, and customer roles at its Auckland headquarters.
The company also announced in late April that it has begun a global rollout of direct-to-satellite technology for its smart cattle collars, which will allow farmers to monitor and control livestock without the need for on-farm transmission towers.
Halter with satellite will be available to farmers in the United States and New Zealand immediately, with an Australian launch date expected shortly. The company also announced a suite of new tools for reproduction, animal behaviour, and precision pasture management.
Direct-to-satellite will open up virtual fencing for beef producers in regions like northern New South Wales, Far North Queensland and the wider Mallee region in Victoria and South Australia. The increased connectivity also positions Halter for expansion into more remote markets globally, such as South America and parts of Africa.
