Halter Raises $220M Series E at $2B Valuation – Physical AI is Eating the Farm and Ranch

For the last decade, the AI revolution has been invisible to many. It lives in data centers. It moves bits. It recommends, predicts, optimizes — but it doesn't touch anything. The world of atoms has been mostly untouched.

That is changing fast.

At Promus Ventures, we have spent years investing in Physical AI — artificial intelligence that doesn't just process information, but acts in the physical world. It moves robots autonomously through factories. It launches rockets and guides satellites over conflict zones. It assembles meals in commercial kitchens. And now, with increasing force, it is running the world's farms and ranches.

Halter’s new $220M round at a $2B valuation led by Founders Fund is another signpost in their journey to transform agriculture using Physical AI to efficiently manage farms and ranches into the future. We’re excited to invest again in this round, with participation from existing investors Blackbird, DCVC, Bond, Bessemer, NewView, Ubiquity, and Icehouse. It has been a privilege to work with Founder and CEO Craig Piggott and the terrific Halter team since we led their seed round.

Cattle-based agriculture is a multi-trillion-dollar industry. It is also one of the most labor-intensive, capital-inefficient industries on earth. Farmers wake at 4am to walk paddocks. They string miles of fence by hand. They lose animals to illness they never saw coming. Halter doesn't optimize around those constraints — it eliminates them. Farmers using Halter's platform see dramatic reductions in daily labor, higher pasture utilization, improved herd health, and measurably better profitability. The technology doesn't assist the farmer, but rather acts on their behalf.

Halter is "that company" for agriculture. And agriculture is one of the largest, most underserved, and most consequential industries on the planet. Software AI creates efficiency at the margin. Physical AI restructures the economics of entire industries.

Halter serves more than 2,000 ranchers and farmers across New Zealand, Australia, U.S. and Canada. Over 1 million of its solar-powered collars have now been sold. The Company is expanding into Ireland and U.K. this year, and is exploring further expansion in North and South America later this year. Halter plans to hire more than 200 people with a focus on product, engineering and customer roles.

The best DeepTech investments are the ones that seem impossible until suddenly they seem inevitable. Halter's Series E comes only nine months after raising their $100M Series D last year. We’re excited for Halter's next chapter and what lies ahead!

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Promus Ventures invests in early-stage deep tech startups solving complex problems to advance everyday lives across the world. Some of Promus Ventures’ other leading portfolio investments include Rocket Lab (Nasdaq: RKLB), Whoop, ICEYE, AngelList, Mapbox, Mytra, Robco, Spire (NYSE: SPIR), Bellabeat, The Exploration Company, Kensho, Gauss Surgical, All.Space, and numerous others.

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