Agritech startup, Halter, raised $100 million at a $1 billion valuation, becoming one of New Zealand's unicorns.
The Series D funding was led by Bond and joined by NewView, Bessemer Venture Partners, DCVC, Blackbird, Icehouse Ventures, and Promus Ventures.
Halter focuses on cattle management for dairy farmers, using smart collars, connectivity towers, and a mobile app to enhance grazing efficiency and reduce environmental impact.
The company plans to expand in the US, where it works with 150 ranchers in 18 states, addressing labor shortages and improving herd management efficiency.
Halter's technology helps ranchers manage herds more efficiently with fewer staff, catering to the aging farmer population and labor shortages in rural areas.
The US farm industry is experiencing staffing challenges due to recent deportations, impacting an industry traditionally reliant on immigrant labor.