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Peter Thiel's big bet on solar-powered cow collars
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Founders Fund has made its name backing what Peter Thiel calls “zero to one” companies, businesses that don’t improve on existing ideas but create something entirely new.
Key facts
- Halter, which closed a $220 million Series E at a $2 billion valuation last month, with Founders Fund leading the round, isn’t the kind of company that tends to dominate tech headlines
- Nine years later, Halter’s collar is on more than a million cattle across more than 2,000 farms in New Zealand, Australia, and the United States, where the company operates in 22 states
- Craig Piggott, Halter’s 30-year-old founder and CEO, has spent nine years working on an answer
- Agriculture is spread around the world, and they need to get there too
Summary
Halter, which closed a $220 million Series E at a $2 billion valuation last month, with Founders Fund leading the round, isn’t the kind of company that tends to dominate tech headlines. Craig Piggott, Halter’s 30-year-old founder and CEO, has spent nine years working on an answer. The system Halter has built combines a solar-powered collar, a network of low-frequency towers, and a smartphone app to let farmers create virtual fences, monitor every animal around the clock, and move their herds without ever leaving the farmhouse. The collar does more than herd.