Halter Raises NZ$377M to Expand Virtual Fencing Globally

The company also announced it will enter the United Kingdom and Ireland later this year, along with key South American markets.

Halter raised $NZD377 million in Series E funding at a $3.43 billion valuation ($US2 billion). 

The round was led by Series A investor, US-based Founders Fund, with participation from cornerstone investors including Blackbird, DCVC, Bond, Bessemer, NewView, Ubiquity, Promus and Icehouse Ventures.

The capital will help the company support its New Zealand farmers, accelerate its commercial expansion across the United States, and fund the roll-out of a range of new products in coming months.

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.

To drive this expansion Halter is hiring a record 220-plus roles across New Zealand, Australia, and the US in coming weeks, with a focus on product and engineering and customer jobs based at the company’s Auckland HQ.

The capital raise is one of the largest-ever in agritech globally, and reflects accelerating demand for virtual fencing technology. Halter now serves more than 2000 farmers and ranchers across New Zealand, Australia, and the United States, with one million of its solar-powered collars now sold.

Craig Piggott, chief executive and founder of Halter, says the company was started because of a belief that technology could fundamentally change what it means to run a farm and enable farmers to use innovation to build long-term futures on their land.

“Our farmers need tools that work, and the fact that they’re using Halter tells us our technology has earned their trust. This raise lets us bring it to far more of them - and faster," Piggot says.

He says farmers in the UK and Ireland have long been interested in Halter, adding that he is excited to be able to bring the technology to one of the world's most important agricultural markets.

"The UK and Ireland are very similar to New Zealand in terms of landscape and climate - we know we can have an impact there,’’ Piggott says.

Halter’s GPS-enabled collars use audio cues and gentle vibrations to contain and herd cattle within virtual boundaries, allowing farmers to move herds from a smartphone.