Nofence raises €30 million in Series B funding to enhance its virtual fencing technology, promoting sustainable livestock management across Europe and North America.

Target Information

Nofence, headquartered in Molde, Norway, is the world’s first commercial provider of virtual fencing systems for livestock. Founded in 2011 by goat farmer Oscar Hovde, the company has developed a pioneering technology that utilizes solar-powered, GPS-enabled collars to allow farmers to create and manage virtual grazing boundaries directly through a mobile app. This innovative approach enhances herd management and improves grazing efficiency, effectively replacing traditional fencing with a more adaptable solution.

Since its inception, Nofence has seen remarkable growth, recently surpassing 150,000 collars sold throughout Europe. The system not only reduces infrastructure and maintenance costs but also contributes to environmental sustainability by preventing overgrazing and promoting healthier soil. Nofence’s services are increasingly recognized across various markets, including Spain, Ireland, the UK, and Norway, as the company continues to foster better grazing practices and animal welfare.

Industry Overview in Europe

The agricultural technology (agtech) industry in Europe is rapidly evolving, driven by increasing demands for sustainability and efficiency in farming practices. As European farmers face rising operational costs and stricter environmental regulations, innovative solutions s