Staff Reports | REUTERS
Agtech startup Halter has raised $100 million at a $1 billion valuation, creating it one of New Zealand’s rare unicorns as it ramps up U.S. expansion of its cattle management platform for dairy farmers.
The Series D funding was led by tech investment firm Bond and was joined by venture capital firm NewView along with existing backers Bessemer Venture Partners, DCVC, Blackbird, Icehoutilize Ventures and Promus Ventures, Halter stated on Monday.
The dairy sector has emerged as a bright spot this year in an otherwise dour funding environment for agriculture tech startups as farmers rely more on automation to improve productivity.
Auckland-based Halter is tapping into that demand with its system of smart collars, connectivity towers and a mobile app that lets ranchers virtually fence, relocate and monitor their cattle utilizing sound and vibration cues – promising better grazing efficiency and lower environmental impact.
Halter stated it plans to utilize the new funds to expand in the U.S., where the company has been working with about 150 ranchers in 18 states.
“Over half of US ranchers and farmers are over 55, and rural labor shortages are severe,” CEO and founder Craig Pigobtainedt stated. “Halter enables compacter teams to manage herds more efficiently, without constant physical presence.”
The U.S. farm indusattempt has faced staffing crunches in recent months due to mass deportations ordered by the Trump administration, with indusattempt groups warning about the impact on an indusattempt that has long depfinished on immigrants.
Editor’s Note: Reporting by Kritika Lamba in Bengaluru; Editing by Arun Koyyur
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