Halter raises $165m, company valued at $1.65b
New Zealand tech company Halter has raised $165 million from investors in its latest fundraising round.
Milk vat manufacturer DTS is selling its dairy automation business to MilktechNZ.
Effective from this week, MilktechNZ takes over ownership of MilkHub and will be providing support for the installation and service of Manual and Auto-Drafter, in-line milk sensors, in-bail identification and Herd-Man software and app.
Hamilton-based MilktechNZ is known for its CR-1 electronic cup removers, and for creating simple, clever dairy technology for today's farmers worldwide.
DTS chief executive Gavin Thwaites say he has full confidence in the capabilities of MilktechNZ.
"With over 80 years of combined expertise in dairy technology and automation, their leadership team is exceptionally equipped to support and further evolve the dairy automation business ensuring it meets the demands of customers," says Thwaites.
MilktechNZ chief executive and foundr Gustavo Garza says his company is excited abut the acquisition of MilkHub into the MilktechNZ portfolio.
Questions are being raised about just how good the state of the dairy industry is - especially given that the average farmgate payout for the coming season is set to exceed $10/kgMS.
A leading financial and banking advisor says he doubts if most dairy farmers fully understand the dynamics of banking.
Dairy farmers are shoring up their balance sheets, with almost $1.7 billion of debt repaid in the six months to March 2025.
Virtual fencing company Halter is going global but for founder Craig Piggott, New Zealand farmers will always remain their main partners.
A former Fonterra executive is the new chair of the Dairy Companies Association of New Zealand (DCANZ).
New Federated Farmers national dairy chair Karl Dean is looking forward to tackling the issues facing the sector.
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