New Zeland-based agtech startup Halter has raised a little less than €50 million In a Series C investment round for its GPS-enabled solar collar, which uses sound and vibrations to guide cows around pastures.
Led by US VC Bessemer Venture Partners, the round saw the participation of existing investors Blackbird, Rocket Lab founder Peter Beck, Kiwi VC Icehouse Ventures, and DCVC.
The company designs electronic collars that use sound and vibration to guide and contain individual cows improving animal health, reducing labor costs, and helping farmers become more efficient while reducing greenhouse gas emissions.
The subscription-based collars help farmers cultivate fenceless farming, keep livestock away from waterways and other sensitive environments, monitor their herds around the clock, and shift their herd remotely.
Furthermore, the company registers the Cowgorithms, gathering five data points a second on every cow, offering proactive insights into the health of every animal, allowing farmers to detect subtle changes in animal behavior and alert them before the animal shows any visible signs of being on heat, lame or calving.
Halter plans to maintain ownership of the collars and lease them to farmers with the software targeted based on the individual farmer's requirement.
With the funding, Halter plans to continue improving its technology and expand significantly their reach into countries that have similar farming practices as New Zealand.