New Zealand-based virtual fencing company Halter is gearing up for a major international rollout after securing NZD $377 million (US$220 million) in Series E funding; one of the largest agri-tech raises ever completed globally. The round, led by Peter Thiel’s Founders Fund, doubles the company’s valuation to US$2 billion in just nine months and signals growing investor confidence in applied AI solutions for agriculture.
Halter, founded in New Zealand and now serving over 2,000 farmers across New Zealand, Australia and the United States, has sold one million of its solar-powered, GPS-enabled smart collars. These AI-driven devices allow farmers to remotely control, monitor and move cattle using a combination of GPS positioning, sound cues and vibration signals, removing the need for physical fencing and manual herding.
Through a mobile app, farmers can instantly redraw paddocks, automate rotations, reduce labour demands, improve pasture utilisation, and support regenerative land management. Halter operates a recurring revenue model, charging US$5-$8 per cow per month for hardware and software access.
The newly secured capital will be deployed to support existing New Zealand customers, accelerate US commercial expansion and fund new product releases focused on animal health and pasture management
To support this growth, Halter plans to recruit over 220 new staff across New Zealand, Australia and the US, with most roles centred on engineering, product development and customer operations at its Auckland headquarters.
A strategic move into the UK, Ireland and South America
Later this year, Halter will expand into the UK, Ireland and South American markets, regions CEO Craig Piggott describes as “natural fits” due to similar pastoral systems, landscapes and climates. “Farmers in the UK and Ireland have been interested in Halter for years. We know we can have an impact there,” he said.
With the company’s technology already proven in multiple geographies and livestock systems, these markets represent a major commercial opportunity at a time when the pressure to improve productivity, sustainability and labour efficiency is intensifying.
Massive raise signals strength of applied AI in agriculture
Halter’s raise stands out in a year where later-stage agritech investment has been relatively flat. The size of the round underscores growing investor appetite for applied AI platforms with proven unit economics, low churn and clear return on investment.
It also follows the recent high-profile Series B raise by Norwegian virtual fencing competitor Nofence, which became Europe’s largest agritech fundraise of 2025, further demonstrating the accelerating demand for virtual fencing solutions.
Founders Fund partner Amin Mirzadegan said Halter’s traction reflects deep customer adoption: “Agriculture is a multi-trillion-dollar industry that feeds the world, yet remains one of the least digitized sectors on earth. Halter is changing that by bringing software, sensors, and AI directly into livestock operations in a way that farmers actually adopt.”
“Technology that changes what it means to run a farm”
Piggott emphasised that Halter was founded on the belief that technology could fundamentally reshape farming.
“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.”
