Halter Continues Rapid Growth, Raises $100M Series D

New Capital to Fuel US Expansion and Scale Ranch + Farm Management Physical AI Platform

Congratulations to Craig Piggott and the entire Halter team for closing its $100M Series D round led by BOND. NewView also joins the round, joined by existing investors Bessemer, DCVC, Blackbird, Icehouse, and Ubiquity. Promus Ventures led Halter’s Seed round back in 2017 (read here), and has invested in every subsequent round, including this new Series D. Now employing over 200 people, Halter is the world’s leading technology to manage a beef ranch or dairy farm. Unlocked by Physical AI, the Company’s hardware-enabled SaaS model utilizes a smart collar for dairy and beef cows. Halter serves thousands of customers across New Zealand, Australia and the US, and has dramatically changed how owners operate their ranches and farms.

Ranchers who utilize Halter’s system cite higher profitability and more efficient management of their herds and operations. Not only is the overall health and grazing of the herd better through virtual fencing and monitoring, but improved soil health and land management also result. Cattle-based products generate over $1 trillion annually, and the industry has quickly adopted Halter’s leading Physical AI technology. We have been fortunate to partner with Craig and team since the very early days of Halter. In a recent video discussing Halter and its origins, Craig states, “To be honest, Halter has been 10–20x harder than we ever thought in the beginning.” The Company’s continued iteration of its platform over the years and its high quality commitment has positioned its system as a unique and differentiated offering in agriculture.

Halter provides a meaningful edge for ranchers and farmers to increase their operational margins with the system’s ease of use and numerous features. The upside of successfully building a new hardware/software technology platform is the deep moat that results as the model starts working and then dramatically scaling. Halter has persevered to now enjoy the latter scenario. As an aside, we have found over the last 14 years of DeepTech investing at Promus Ventures that our most successful investments are those that seem to be overly (and overtly) questioned in the early days. And by “overly,” I mean there was a continuous “interesting idea but this will never work” response from numerous investors in the early days. The work ethic, fortitude and vision of the Halter team since the beginning only solidified our conviction in the Company and thesis. Nothing better than to watch a team succeed where others doubted. It is a great pleasure to sit on the Halter Board alongside such terrific investors and friends. Great companies produce great boards, and we are grateful to be working with the entire Halter team and investment partners. We are excited to welcome new investors BOND and NewView, and continue to help the Halter team scale its global vision for increased productivity for ranchers, farmers, and the entire agriculture industry.

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Founded in 2012, Promus Ventures invests in early-stage deep-tech startups solving complex problems to advance everyday lives across the world. From offices in the US and Europe, Promus Ventures has invested in over 100 early-stage startups in the US, Europe, UK, and New Zealand. Some of Promus Ventures’ other leading portfolio investments include Rocket Lab (Nasdaq: RKLB), Whoop, ICEYE, AngelList, Mapbox, Spire (NYSE:SPIR), The Exploration Company, FLYR, Robco, Mytra, Swift Navigation, Lunar Outpost, Kensho, Gauss Surgical, and numerous others. Recipients of this post are not to construe it as investment, legal, or tax advice, and it is not intended to provide the basis for any evaluation of an investment in any fund. Prospective investors should consult with their own legal, investment, tax, accounting, and other advisors to determine the potential benefits, burdens, and risks associated with making an investment in any fund. Promus Ventures is a trademark of Promus Holdings, LLC. Used under license. Copyright 2025 Promus Ventures, all rights reserved.