Nofence Raises Over $35 Million in Series B Funding to Accelerate U.S. Expansion and Global Growth

Breakthrough investment showcases momentum of virtual fencing technology, as Nofence advances scalable, tech-driven grazing solutions for livestock management

ST. PAUL, Minn., Sept. 16, 2025 /PRNewswire/ -- Nofence, the leading innovator in virtual fencing technology, announced today that it has raised over $35 million (€30 million) after the successful close of its Series B funding, which concluded in July. As Europe's largest agtech funding round of 2025, this investment signals investor confidence in Nofence's market traction, product innovation, and long-term potential to transform livestock management in the U.S. and worldwide.

The new capital is announced on the heels of the company's recent hirings of Alex Bell as managing director in the U.S. and Eric Yates as national sales director. These investments were led by international firms with deep expertise in climate tech, agtech, and sustainable systems, including the lead investor European Circular Bioeconomy Fund, along with Capagro, Nysnø Climate Investments, Climate Innovation Capital, and Speedinvest - while existing investors Sandwater, Momentum, and Ferd are also continuing their commitment, reflecting strong support for Nofence's role in providing more sustainable and efficient grazing solutions for cattle, sheep, and goat farmers alike.

As the pioneer of virtual fencing and the company with the longest experience in the field, the new funding will enable Nofence to accelerate its worldwide expansion in key North American and European markets. It underscores the company's continued momentum in advancing its technology through further product development, strengthening service to its growing customer base, and reinforcing its position in core markets, including in the U.S. and E.U. Nofence recognizes the trust and support farmers and ranchers placed in its technology and is committed to using the new capital to further invest in enhancing its ability to serve them and deliver greater value. Nofence's solar-powered, GPS-enabled collars managed via its easy-to-use mobile app are already helping thousands of farmers and ranchers improve land stewardship and reduce labor and production costs.

"Nofence's virtual fencing is transforming the way livestock producers manage their herds by enabling rotational grazing - an effective climate measure in agriculture - while also offering more efficient solutions to better monitor and enhance the welfare of livestock, reduce costs, and provide peace of mind," said Joachim Kähler, CEO of Nofence. "This Series B funding is more than a financial milestone; it further validates our vision and the real-world results we've delivered to farmers across the globe. This raise reflects the strength of our team, the loyalty of our customers, and the urgency of the challenges we're helping to solve, positioning us to make virtual fencing the standard for livestock management globally."

"Farmers and ranchers are looking for tools that give them greater flexibility and insight in how they manage their land and livestock, and Nofence's virtual fencing technology is delivering for those needs," said Alex Bell, U.S. Managing Director for Nofence. "With Nofence, our customers are able to work more efficiently and steward their land more sustainably. These investments mark a major step forward for Nofence in the U.S., expanding our reach and accelerating our ability to deliver even more value to our customers."

"We are incredibly proud to announce our Series B funding round. This investment is a testament to the hard work of the entire Nofence team and the strength of our technology," said Stefanie Witte, Chair of Nofence's Board of Directors. "What's particularly exciting for us is not just the capital, but the calibre and international breadth of our investors. They bring a range of expertise from across Europe and North America - perfectly aligned with Nofence's own international expansion, and their experience will be an invaluable asset as Nofence continues to grow and innovate."

"At ECBF, we back companies that scale commercially while driving sustainable, resource-efficient systems. Nofence is transforming livestock management with a solution that improves efficiency, lowers costs, while restoring soil and biodiversity," highlighted Isabelle Laurencin, Partner at ECBF. "With strong traction in Europe and clear U.S. growth prospects, we are proud to back this ambitious team as they set a new standard for sustainable agriculture."

"Nofence is addressing one of the most urgent needs in agriculture: making livestock management more efficient and climate-friendly. The company's rapid adoption across multiple markets demonstrates both the strength of its technology and the depth of demand from farmers. Having backed Nofence since the Series A, Sandwater is proud to continue this partnership and build on the strong foundation already in place," says Torkel Engeness, Partner at Sandwater.

"We have known Nofence for a long time and continue to be impressed by their execution across markets. With farm digitization still in its early stages, Nofence stands out as a key enabler, creating a strong platform for new products beyond virtual fencing," emphasized Wissam Nasreddine, Principal at Speedinvest.

Since entering the U.S. market in 2025, Nofence has seen surging demand among American producers eager to improve grazing management without the constraints of physical fencing. As the world's only provider of virtual fencing for both cattle and small ruminants, Nofence technology is helping American producers in 48 states manage their livestock more efficiently, all while saving time and money.

About Nofence and the technology
Founded in Norway in 2011 by goat farmer Oscar Hovde at Batnfjordsøra, Nofence is the world's pioneer commercial virtual fencing system for livestock, serving as a sustainable alternative to physical fencing. The animals' grazing areas are managed using a GPS collar, which communicates with an app using a mobile network. When the animals cross the virtual boundary, an escalating acoustic warning is played. If they ignore the sound, they will get a mild but effective electrical pulse. The animals learn this quickly in their training period of up to a week, depending on variables like the breed and the age of the animal. The collars can be bought online at nofence.co/us.

The company's virtual fences have increased in popularity since its pilot customers first began using it in Norway in 2016, with the company surpassing 150,000 collars sold - a strong testament to the success of the new technology. Nofence has 90 employees worldwide, distributed between Norway, the UK, Ireland, Spain, and the United States.

About the Investors 
Capagro is Europe's first independent venture capital fund dedicated to AgTech and FoodTech innovation. With approximately €240 million under management and backing from leading agrobusinesses and institutional LPs, Capagro supports startups across the entire agri-food value chain, accelerating the adoption of impactful technologies, from smart agriculture to sustainable food solutions.

Climate Innovation Capital (CIC) is a growth equity fund investing in mid-stage climate technology companies that deliver measurable decarbonization and strong financial performance. With deep operational and investment expertise, CIC targets solutions across key sectors like energy, buildings, transportation, and food systems. Its portfolio companies are reshaping industries by turning climate innovations into scalable, cost-competitive businesses.

European Circular Bioeconomy Fund (ECBF) is the leading venture capital impact fund exclusively focused on the circular bioeconomy. With $350 million (€300 million) AUM, ECBF invests $2.3-11.6 million (€2–10 million) in high-potential growth-stage companies across sectors like agtech, food, industrial biotech, and biomaterials. The fund aims to help Europe transition to a climate-neutral, nature-aligned economy by 2050, in line with the European Environmental Goals.

Nysnø Climate Investments is a state-owned investment company that invests in companies and funds with technology for reducing greenhouse gas emissions. Nysnø has assets under management of NOK 5.4 billion and invests in renewable energy, digital technologies, resource efficiency, sustainable consumption, and the circular economy. The company is headquartered in Stavanger and is owned by the Ministry of Trade, Industry, and Fisheries.

Speedinvest is one of Europe's most active early-stage venture capital firms, with over €1 billion in assets under management. Its sector-focused teams and in-house experts provide founders with hands-on support across growth, operations, and business development. Speedinvest backs bold entrepreneurs across deep tech, fintech, climate tech, SaaS, and more.

Sandwater is a Nordic venture capital firm investing in early-stage growth companies in resource efficiency, energy transition and productivity and resilience. Sandwater was established in 2021 by a team with extensive industry experience.

Momentum is a Norwegian venture fund aiming to accelerate sustainability, efficiency, and resilience across energy, food/agriculture, and industry. Momentum typically invests at the seed stage and actively supports its portfolio companies through their growth stages.

Ferd is a family-owned Norwegian investment company committed to value-creating ownership across both businesses and financial assets. Ferd is invested in Nofence through Ferd Impact Investing, which invests in early-stage climate tech companies and funds that have the potential to deliver both a positive climate and environment impact and a solid risk-adjusted return.

Media Contact
Isabel Nieves - [email protected]

SOURCE Nofence