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Investing.com -- New Zealand agtech startup Halter has secured $100 million in Series D funding at a $1 billion valuation, establishing itself as a rare unicorn from the country as it expands its cattle management platform in the United States.
The funding round was led by tech investment firm Bond, with participation from venture capital firm NewView and existing investors Bessemer Venture Partners, DCVC, Blackbird, Icehouse Ventures and Promus Ventures, the company announced Monday.
Auckland-based Halter offers a system that includes smart collars, connectivity towers and a mobile app that allows ranchers to virtually fence, move and monitor their cattle using sound and vibration cues. The technology aims to improve grazing efficiency and reduce environmental impact for dairy farmers.
The fresh capital will fund Halter’s expansion in the U.S. market, where the company is already working with approximately 150 ranchers across 18 states.
"Over half of US ranchers and farmers are over 55, and rural labor shortages are severe," said CEO and founder Craig Piggott. "Halter enables smaller teams to manage herds more efficiently, without constant physical presence."
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