As cattle herds shrink and beef prices rise, investors back AI cow collars

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.

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.

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.

Against that backdrop, Halter is pitching technology aimed at helping farmers do more with less.

The goal is straightforward - fewer workers, lower costs and more efficient land use.

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.