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Efficiency a key priority in expansion of agri-tech company Halter

10 Apr 2023 12:10 PM | Mike Hearn (Administrator)

Agri-tech company Halter says it has focused on growing its core business, and research and development after securing $85 million in capital.

The company, which was founded in 2016, creates electronic collars that use sound and vibration to guide and contain individual cows without the need for fences.

The Series C funding was led by US venture capital giant Bessemer Venture Partners, known for backing companies such as LinkedIn and Rocket Lab.

Bessemer joined existing investors DCVC, Blackbird, Promus, Icehouse and Rocket Lab founder Peter Beck.

Halter founder and chief executive Craig Piggott - who once worked for Rocket Lab - said the company's main growth objectives revolved around its existing product.

"How do we continue to be more efficient - in terms of helping farmers to be more efficient, how do we keep increasing the benefits for them," he said.

"The key priority is more about improving the product and success for our farmers rather than any big expansion plans. They are there but they come second."

Piggott said any overseas expansion would be anchored on countries that farm in a similar way to New Zealand.

Bessemer partner Tess Hatch said Halter was a company that revolutionised livestock farms.

"The company's suite of software as a service products manages everything from pasture grazing and livestock movements to animal health, ultimately reducing labour costs and increasing revenue, while at the same time decreasing farm emissions," she said.

Halter's collars were leased under a "per-cow subscription model" that was based on the features required by farmers.

The company would own and maintain the collars.


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