Peter Thiel invests in smart cows: Halter makes the herd controllable via app – and is now worth almost $2 billion.
Herding cows with an app instead of with a fence and dog? This is exactly what the startup Halter is working on. Now they are apparently receiving prominent support. According to insiders, a new round of financing is pending that could value the company at over $2 billion. The whole thing will be led by Peter Thiel’s VC Founders Fund, reports Bloomberg.
This is how the smart collar works
Halter develops AI-powered collars for cows that essentially replace a virtual fence. Farmers can track their animals via app, check health data and even control the herd remotely. But how does that work? The collars send vibrations and sound signals that the cows respond to, allowing them to move around without a physical fence. The devices run on solar energy and are connected to the farmers’ smartphones. This means: pasture management works completely remotely.
Halter last secured $100 million in June, at a valuation of around one billion. Since then, the company has continued to expand, especially in the USA. In addition to the headquarters in Auckland, there is now also an office in Colorado.