Halter raises $165m, company valued at $1.65b
New Zealand tech company Halter has raised $165 million from investors in its latest fundraising round.
The NSW Government has announced it will end a historic prohibition on the technology, which has already been available for years in other parts of Australia, New Zealand and the US.
Leading provider in virtual fencing and herding, Halter is applauding the NSW Government for this decision
"The NSW Government has responded to a groundswell of demand from farmers crying out for this technology and the increased productivity it unlocks," Halter spokesman Charlie Baker says.
Baker points out that role Kiwi farmers have played in the spread of virtual fencing technology.
“Kiwi farmers can be proud of this announcement as hundreds of Kiwi farmers have blazed a trail with virtual fencing for years in New Zealand - these farmers have been an influential reference for this change in NSW.”
New South Wales has a significant beef sector, with 4.4 million beef cattle, representing roughly 20% of Australia’s beef population. Historically, farmers in NSW have been denied access to virtual fencing because of outdated legislation.
This announcement is part of a broader trend to allow virtual fencing throughout Australia. In February, the South Australian Government also passed legislation to soon allow virtual fencing. It is now developing regulations to allow farmers to access this technology within 12 months. South Australia also has a significant agriculture sector with over one million cattle.
Baker says these are exciting developments for Halter, as it prepares to start serving farmers in NSW and South Australia - states where there is significant pent up demand for Halter. In Tasmania, Halter is already used by 25% of the state’s dairy herd. Halter also serves beef and dairy farmers in Queensland.
Halter says its technology helps farmers increase productivity by increasing pasture utilisation with virtual fencing and herding, reduces labour by automating routine jobs like fencing and shifting animals and is more resilient and flexible to natural disasters like fires and floods.
The Halter operating system includes smart collars on cows and a Halter App for the farmer. Halter enables farmers to virtually fence, virtually herd, and proactively monitor the health, fertility and location of their cows. Over 1,000 farmers are using Halter, with over 300,000 animals being managed on farms across Australia, New Zealand, and the US.
