Norwegian ag-tech firm Nofence has closed a Series B round of over US$35 million (€30 million), raising the capital in July and announcing the deal publicly in mid-September 2025. The funding round is one of Europe’s largest in ag-technology this year, and it’s designed to accelerate the company’s expansion, product innovation, and global reach.
Key Investors & Stakeholders
- Lead investor: European Circular Bioeconomy Fund (ECBF).
- Other new investors: Capagro, Nysnø Climate Investments, Climate Innovation Capital, Speedinvest.
- Existing backers also renewed or increased support: Sandwater, Momentum, Ferd.
Founded in 2011 by goat farmer Oscar Hovde, Nofence’s core product is a virtual fencing system for livestock (cattle, sheep, goats) that uses solar-powered GPS collars and a mobile app to define grazing boundaries. When the animal crosses virtual boundaries, escalating acoustic cues are given, followed by a mild electric pulse if ignored. This provides an alternative to physical fencing, with promises of better land management, greater flexibility, lower labour costs, and enhanced animal welfare.
With this new capital, Nofence plans to:
- Expand operations in Europe and the United States, growing its presence in both established and emerging markets.
- Advance its tech: improve collar hardware & connectivity, enhance user experience of the app, strengthen service, support product development.
- Scale its customer support functions, sales team, and distribution to serve thousands of farmers and ranchers already using its solution.
Scale & Impact to Date
- Nofence has sold over 150,000 collars globally.
- Its technology is being used in 48 U.S. states as well as through multiple European countries.
- Headcount is around 90 employees worldwide, with bases in Norway, UK, Ireland, Spain, and the U.S.
Nofence stands at a promising inflection point, but scaling virtual fencing at this level brings challenges:
- Reliable connectivity in remote and rural areas (for GPS & mobile network-based systems).
- Regulatory and animal welfare scrutiny around the use of electric pulses (even mild ones).
- Competition from both traditional fencing and emerging digital livestock management tools.
However, the upside is strong. With environmental concerns, land use pressures, and labour shortages in agriculture mounting, tools that enable rotational grazing, reduce infrastructure costs, and support sustainable livestock management are likely to have strong demand.
With its latest $35 million funding, Nofence is pushing toward global scale. The investment reflects growing confidence from climate/impact investors in ag-tech solutions that can deliver both environmental benefit and economic performance. If it succeeds in its expansion and technology roadmap, virtual fencing could become a mainstream option for livestock farmers around the world—not just a niche innovation.
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