Founders Fund, known for investing in “zero to one” companies as per Peter Thiel’s philosophy, has supported ventures that innovate beyond existing concepts. Its investments span companies like Facebook, SpaceX, and Palantir. The latest addition to its portfolio is a New Zealand startup that equips cows with solar-powered smart collars.
Halter recently secured $220 million in a Series E funding round, achieving a $2 billion valuation, with Founders Fund at the forefront. Unlike typical tech giants, Halter tackles a significant challenge—managing cattle across vast, remote areas without traditional aids like dogs, horses, or helicopters.
Craig Piggott, the 30-year-old founder and CEO of Halter, has dedicated nine years to addressing this issue. Discussing with JS, Piggott explained, “For pasture-based farms, whether dairy or beef, the key is optimizing land productivity. Virtual fences, controlling grazing and land rest, are an intuitive solution.”
Halter’s system integrates a solar-powered collar, low-frequency towers, and a smartphone app, enabling farmers to establish virtual fences, continuously monitor livestock, and move herds without leaving home. Cows learn to respond to audio and vibration cues from the collar, akin to a car’s parking sensors, typically within three interactions. “You can then guide them using sound and vibration alone,” Piggott noted.
Beyond herding, the collar gathers behavioral data to track health, monitor fertility, and detect potential illness, improving greatly with Halter’s extensive dataset on cattle behavior. The company is on its fifth hardware generation, and its reproduction product is currently being tested with U.S. clients.
“The tools ranchers use today have evolved drastically compared to a year ago,” Piggott said. “We introduce new features weekly.”
Piggott, who grew up on a New Zealand dairy farm, pursued engineering and briefly worked at Rocket Lab, which sparked his interest in tech startups. “Rocket Lab showed me the potential of raising funds, building a team, and chasing ambitious goals. I wanted to apply this to agriculture,” he said. At 21, he founded Halter, admitting, “In hindsight, it was naive, but it worked out.”
Techcrunch event
San Francisco, CA
|
October 13-15, 2026
Today, Halter’s collars are used on over a million cattle across more than 2,000 farms in New Zealand, Australia, and 22 states in the United States. The primary benefit for farmers is enhanced land productivity, potentially by 20%, not only through labor savings but also by optimizing grazing patterns. “Some clients have doubled their land’s output,” Piggott stated. “The potential return is exceptionally high.”
Halter faces competition, notably from Merck’s virtual fencing system, Vence, and newcomers like Grazemate, which envisions drone-based cattle herding. Piggott remains unfazed, suggesting drones might play a minor role in the future but maintaining that collars are the optimal choice for virtual fencing. “The real challenge is overcoming inertia,” he said. “The strongest competition is the status quo.”
Halter’s edge lies in the engineering complexity it has mastered over nine years. Managing a thousand animals demands high reliability, as even a minor failure can be disruptive. “Achieving this level of reliability takes time,” Piggott noted, adding that this foundation was established in New Zealand before global expansion.
In a sector struggling with adoption and high costs, Halter stands out for its strong financial focus. “Halter was built with a clear financial ROI from the start,” Piggott explained. “A 20% increase in land productivity benefits the entire business.”
Unlike many tech firms, Halter doesn’t see the U.S. as its sole focus. “The U.S. is significant, but not the largest market,” Piggott remarked. “Agriculture is global, and we need to expand accordingly.” Having raised about $400 million, the company is targeting growth in the U.S., South America, and Europe.
The potential for growth is immense, with Halter’s collars on one million cattle and another billion globally. With New Zealand alone under 10% penetration, Piggott acknowledges, “There’s a long journey ahead and much development still required.”
Listen to our talk with Piggott on the latest episode of the StrictlyVC Download podcast, available on Tuesdays.
