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A startup putting high-tech collars on cows could soon be worth more than $2 billion, as investors bet the technology could help farmers cut costs and cope with labor shortages.
Halter, a New Zealand-based company, is in talks to raise new funding in a deal expected to be led by billionaire Peter Thiel's Founders Fund, according to a Bloomberg report. The round is attracting heavy investor interest and is close to being filled, though final details are still being negotiated.
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Farmers are increasingly looking for ways to lower expenses and boost efficiency - changes that could eventually affect food prices for consumers.
Beef prices are already soaring, and economists warn Americans shouldn't expect relief anytime soon as the U.S. cattle herd has shrunk to its smallest size in 75 years.
The decline has been driven by years of drought, rising costs and an aging ranching workforce. Experts say rebuilding herds will take years, meaning beef prices are likely to remain elevated.
According to U.S. Department of Agriculture data, the average price of beef in grocery stores climbed from about $8.60 per pound in February 2025 to $10.12 per pound a year later - a roughly 18% increase.
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Against that backdrop, Halter is pitching technology aimed at helping farmers do more with less.
The company's solar-powered, artificial intelligence-driven collars let ranchers herd cattle without fences, using GPS, sound and vibration signals controlled through a smartphone app. The system also tracks livestock health and movement in real time, giving farmers a way to manage herds remotely.
The goal is straightforward - fewer workers, lower costs and more efficient land use.
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Halter is part of a broader push toward "precision agriculture," where technology is used to modernize farming. But that sector has struggled in recent years, with a wave of startups collapsing and investors pulling back amid high costs and slow adoption.
The company has also expanded into the U.S., opening an office in Colorado and targeting American ranchers as a key growth market.
If the latest round closes as expected, it would signal renewed confidence that AI can succeed in farming - an industry where many tech bets have fallen short.
Halter did not immediately respond to Fox News Digital's request for comment.
