Halter Raises $220 Million to Expand Farm Operating System
Boulder-based Halter, a company that integrates animal and pasture data into a single app for farm management, has successfully closed a $220 million Series E funding round. This latest round was led by Founders Fund, with participation from Blackbird, DCVC, Bond, Bessemer, NewView, Ubiquity, Promus, and Icehouse Ventures.
Funding Details
The Series E round, announced on March 23, 2026, brings Halter’s valuation to $2 billion. This significant investment highlights the growing interest and confidence in Halter's innovative approach to modern cattle farming.
Company Background
Founded in 2016, Halter is at the forefront of transforming pasture-based farming through its technology that leverages solar-powered, GPS-enabled collars. These collars provide farmers with crucial data, enabling them to make informed decisions about herd management. The company currently serves over 2,000 farmers and ranchers across New Zealand, Australia, and the United States, and has sold one million collars to date.
Expansion Plans
The funds raised will be used to further develop Halter's presence in its existing markets and expand its reach into new territories such as Europe. CEO Craig Piggott emphasized the potential for growth, stating, "The collar gets a sensor onto the animal and virtual fencing is the entry point, but once you’re collecting continuous data from every cow in a herd, the possibilities for health monitoring, reproduction insights, and yield optimization are vast."
Business Model
Halter operates on a subscription-based model, with pricing ranging from $6-10 per cow per month, depending on herd size and market. This model, alongside a one-time infrastructure fee for on-farm towers, contributes to an estimated annual recurring revenue between $70-$100 million.
Market Context
Halter's valuation comes at a time when global agrifoodtech funding has seen significant declines. Nevertheless, the company’s innovative approach and strong market presence have positioned it as a leader in the sector, with investors like Antony Yousefian of The First Thirty Ventures noting the undervaluation of the market's potential.
Future Outlook
With this substantial financial backing, Halter is well-positioned to continue its trajectory of growth and innovation, enhancing the efficiency and productivity of pasture-based farms globally.