Halter Raises Series A Financing Round
Halter today announced closing a Series A financing round. The round was led by Promus Ventures of Chicago.
Halter will use the funding to scale on-farm implementation of its revolutionary herd management solution. Halter allows farmers to use a tablet app and sound directed cow collar to remotely manage their herd. Using Halter’s proprietary Cowgorithm technologies, farmers will be able to optimise their farming practices; improving productivity, efficiency, animal welfare and environmental sustainability. The technology will also improve the lifestyle and well-being of farmers by giving them unprecedented flexibility and control over their schedules and daily routine.
“We’re delighted to have Promus as an early investor, and see Mike and his team as the ideal, strategic partners for Halter as we work to grow globally,” said Craig Piggott, CEO and founder of Halter.
This funding will enable us to scale our on-farm development ahead of providing commercial services in 2018. We’ve seen considerable demand from customers looking to run a pilot farm, and get ahead of the queue. We’re taking pre-orders and would encourage anyone interested to get in touch quickly.”
Mike Collett of Promus will join Halter’s board of directors. Collett has existing investment interests in New Zealand after Promus invested in Rocket Lab’s Series D financing round.
"At Promus we look to invest in tech companies run by visionary and tenacious founding teams,” said Collett. “Craig and his team are dedicated to revolutionising farming in a globally unprecedented way.”
“Halter is set to redefine an industry and truly modernise farming,” said Peter Beck, CEO of Rocket Lab, and an independent director of Halter. “I believe in kiwi companies that have big, billion-dollar potential - Halter is one of those companies.”
The Series A round of funding follows a seed round (2016) led by New Zealand angel network, Tuhua Ventures.
Halter will begin commercial roll out in 2018 and has plans to expand globally.
About Promus Ventures
Promus Ventures is a venture capital firm based in Chicago investing in deep-technology software and hardware companies. The firm has invested in more than 60 private technology companies, including areas such as artificial intelligence, space, virtual reality/ alternative reality, machine learning, robotics, natural language processing, autonomous vehicles/connected car, bitcoin/blockchain, computer vision, digital health, fintech, insurance, and others. Promus Ventures focuses primarily on Seed and Series A rounds and has invested in such leading companies as AngelList, Kensho, Mapbox, Spire, Rocket Lab, Swift Navigation, Tulip Retail and others. More information can be found at www.promusventures.com.