LIC ends year with $30.6m profit
Herd improvement company LIC has ended the 2024-25 financial year in a strong position - debt-free and almost quadrupling its net profit.
The Series D fundraising round, led by BOND, a global technology investment firm, values Halter at $1.65 billion
Halter, founded by Waikato entrepreneur Craig Piggott, supplies virtual fencing and animal management systems to farmers.
Piggott says Halter was built with their early farmers.
“We wouldn’t be here without them. We’re deeply grateful for their trust. This capital will help unlock productivity gains for even more farmers.”
The company says Halter is the leading operating system to run a dairy or beef farm. The Halter system includes a solar-powered smart collar for each cow, towers for connectivity, and an app that lets farmers manage their cattle and pasture from their phone. Cattle are guided by the collar’s sound and vibration cues. Farmers can virtually fence, move, and monitor their cattle 24/7.
“Halter farmers are more profitable and get better outcomes for the environment and their animals. Farmers use Halter to grow and harvest more grass, reduce workload, increase herd size, improve animal health and welfare, and unlock environmental benefits,” says Piggott.
The latest funding round was backed by investment from NewView Capital, continued support from local investors Blackbird and Icehouse Ventures, and ongoing backing from Bessemer Venture Partners, DCVC, and Promus Ventures.
Piggott says the milestone highlights the importance of farming in society.
“Farmers are the backbone of rural communities. They feed society and play a key role in building sustainable food systems. Halter farmers are pioneering a more productive and sustainable way to farm.
“We’re delighted to partner with BOND and to welcome NewView, and we’re grateful for continued support from our investors who backed us early – we’re all aligned on our mission to support farmers.”
