In a market where most agtech startups are struggling to survive, New Zealand-based Halter, founded by Craig Piggott, builds GPS-enabled smart collars for cattle and has now raised $220 million in a Series E round led by Founders Fund, the venture capital firm co-founded in 2005 by Peter Thiel.
Other participating investors include Blackbird, DCVC, Bond, Bessemer, NewView, Ubiquity, Promus and Icehouse Ventures. This brings the valuation to $2 billion, making it the largest in the global agtech sector. Notably, Indigo Agriculture raised $250 million in 2023, while Pivot Bio secured $430 million in 2021, both among the biggest agtech rounds to date.
As of 2026, Halter serves more than 2,000 ranchers and farmers across New Zealand, Australia, and the U.S., with one million of its solar-powered, GPS-enabled collars now sold. Since Halter launched in the U.S. in 2024, American ranchers have built 60,000 miles of virtual fencing as part of their land management.
“We started Halter because we believed technology could fundamentally change what it means to run a ranch, and enable ranchers to use innovation to build long-term futures on their land. Our ranchers need tools that work, and the fact that they’re using Halter tells us our technology has earned their trust. This raise lets us bring it to far more of them – and faster,” said Piggott.
Turning cows into connected assets
Founded in 2016, Halter’s core product is its GPS-enabled collar, which creates virtual fences, allowing farmers to manage and move cattle without physical barriers. Using audio cues and gentle vibrations, ranchers can guide and contain herds remotely from a smartphone, without breaking ground or stringing wire.
The collars also track location and animal health data, all of which is visible through a mobile app, and they run on solar power, making them suitable for large-scale pasture farming.
“Agriculture is a multi-trillion-dollar industry that feeds the world, yet remains one of the least digitised sectors on earth. Halter is changing that by bringing software, sensors, and AI directly into livestock operations in a way that ranchers actually adopt. Craig’s deep understanding of the ranchers he serves has enabled the company to build something that’s not just useful, but mission-critical to how ranches run,” said Founders Fund Partner Amin Mirzadegan.
What comes next
The capital will support the ranchers and farmers already using Halter and will extend the platform to more operations globally, with a continued focus on the people who use it every day.
Halter plans to grow its commercial and field operations across the U.S., New Zealand, and Australia, while expanding into new international markets, starting with Ireland and the U.K. later this year. The company already has early ranches in Canada and is exploring further expansion across North and South America.
Investment will continue across product development, including animal health monitoring and pasture management, and will be shaped by how customers use the system in the field. Halter also plans to hire more than 200 people in its largest-ever hiring effort, with a focus on product, engineering, and customer roles at its Auckland headquarters.
