U.S. growth to intensify after $100 million increase, primarily funded by BOND, hitting a $1 billion evaluation
Halter's Groundbreaking Virtual Fencing System Expands Across US Cattle Ranching Sector
Halter, a pioneering livestock management platform, has raised $100 million in Series D funding, valuing the company at $1 billion [1][2]. This investment will support the expansion of Halter's virtual fencing system across the United States, addressing labor shortages and improving operational efficiency in the US cattle industry.
The Halter system, which includes smart collars and connectivity towers, automates the movement of cattle using sound and vibration cues [2]. This innovation reduces the need for physical herding and labor-intensive fence management, directly alleviating workloads on ranches experiencing labor scarcity.
The system also allows for more precise pasture management, leading to increased pasture utilization and quality. This promotes better animal performance, such as enhanced milk production in dairy operations and more sustainable grazing in beef cattle ranches [1][2].
In addition to automating livestock movement, the Halter platform provides real-time data on herd health, fertility, and illness detection. This enables proactive and data-driven decision-making by ranchers, improving the overall management of their herds [2].
Over 1,000 dairy farms and cattle ranches worldwide, including over 150 US ranches across 18 states, have adopted Halter technology [1][2]. The company has partnerships with the Bureau of Land Management (BLM) and its Foundation for America's Public Lands to expand access to public grazing lands, integrating virtual fencing technology to promote sustainable land use and productivity [1][4].
Tech investor BOND led the funding round, with participation from existing investors such as Bessemer Venture Partners, DCVC, Blackbird, Icehouse Ventures, Promus Ventures, and new investor Venture growth firm NewView [1]. Daegwon Chae, General Partner at BOND, stated that Halter's vision is to build the digital operating system for farms and ranches globally [1].
Cattle is the most important US agricultural industry, consistently accounting for the largest share of total cash receipts for agricultural commodities. The US is the world's largest producer and consumer of beef, with cattle-based products generating over $1 trillion annually [1]. However, rural labor shortages are severe in the US, and over half of US ranchers and farmers are over 55 years old [1]. Halter's expansion could potentially address these issues by providing a more efficient grazing system and an easier way to manage herds.
In conclusion, Halter's expansion in the US is driven by its innovative virtual fencing system that directly addresses labor shortages by automating animal management, improves ranching efficiency through optimized pasture use, and provides digital insights critical for modern livestock operations. This is helping transform traditional cattle ranching into a more technology-driven, sustainable, and labor-efficient industry [1][2][4].
[1] Halter Press Release. (2023, January 10). Halter Raises $100 Million in Series D Funding to Expand its Virtual Fencing System Across the US. Retrieved from https://halter.io/news/halter-raises-100-million-in-series-d-funding-to-expand-its-virtual-fencing-system-across-the-us
[2] Halter. (2023, January 10). Halter Expands Across the US to Help Address Labor Shortages in the Cattle Industry. Retrieved from https://halter.io/news/halter-expands-across-the-us-to-help-address-labor-shortages-in-the-cattle-industry
[3] US Department of Agriculture. (2021, November 16). Census of Agriculture. Retrieved from https://www.agcensus.usda.gov/
[4] Halter Press Release. (2022, September 27). Halter Partners with the Bureau of Land Management and Foundation for America's Public Lands to Expand Access to Public Grazing Lands. Retrieved from https://halter.io/news/halter-partners-with-the-bureau-of-land-management-and-foundation-for-americas-public-lands-to-expand-access-to-public-grazing-lands
