Cattle Technology Startup Becomes New Zealand's New Unicorn With Funding Of IDR 1.6 Trillion

New Zealand's agricultural technology (agtech) startup Halter managed to raise US$100 million (Rp1.6 trillion) with a valuation of US$1 billion (Rp16.3 trillion), making it one of the country's rare unicorns. The funds will be used to expand its business in the United States with a dairy cattle management platform.

The Series D round funding is led by technology investment firm Bond, along with venture capital firm NewView, and is supported by old investors such as Bessemer Venture Partners, DCVC, Blackbird, Icehouse Ventures, and Promus Ventures.

The dairy farm sector is one of the bright spots amid the sluggish funding conditions for agtech startups this year. Farmers are now increasingly relying on automation to increase productivity.

Auckland-based halters are developing a system that combines smart collars, connectivity towers, and mobile apps that allow breeders to regulate virtual fences, move and monitor their cows using sound and vibrational gestures. This technology promises better grazing efficiency and lower environmental impacts.

Halter plans to use this new fund for expansion in the US market, where they are already working with about 150 breeders in 18 states.

More than half of US breeders and farmers over the age of 55, and labor shortages in rural areas are very severe, said CEO and founder Craig Piggott. Halter allows smaller teams to manage cattle more efficiently without having to be physically present.

The US agricultural industry has recently faced labor shortages due to mass deportation imposed by the Trump administration, which has an impact on industries that have been heavily dependent on immigrant labor.