Nofence
Unlocks the potential for profitable use of pastures.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor investor investor investor investor investor investor | €0.0 | round |
| N/A | €0.0 | round | |
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| N/A | €0.0 | round | |
| N/A | €0.0 | round | |
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| N/A | €0.0 | round | |
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| investor | €0.0 | round | |
| investor | €0.0 | round | |
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NOK130m | Late VC | ||
| Total Funding | 000k | ||
| EUR | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|---|
| Revenues | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % growth | 222 % | 351 % | 138 % | 92 % | 142 % | (6 %) | 130 % |
| EBITDA | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % EBITDA margin | (57 %) | (124 %) | (64 %) | (53 %) | (36 %) | (43 %) | - |
| Profit | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % profit margin | (83 %) | (125 %) | (52 %) | (49 %) | (34 %) | (43 %) | (47 %) |
| EV | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
Source: Company filings or news article
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Nofence AS, a Norwegian company founded in 2011, has developed the world's first commercial virtual fencing system for livestock. This system provides a sustainable and flexible alternative to traditional physical fences, enabling farmers to manage their grazing animals with greater efficiency and precision.
The Nofence system utilizes GPS technology and a solar-powered device worn by the animals. Farmers can define virtual pastures using a smartphone app, and the animals are guided by audio cues and, if necessary, a gentle electric pulse to stay within the designated boundaries. This allows for dynamic and optimized grazing patterns, which can lead to improved animal welfare and better land utilization.
The company targets livestock farmers, including those with cattle, sheep, and goats. The business model is based on a combination of hardware sales (the Nofence collars) and a subscription service for the app and GPS tracking. Nofence has expanded its operations beyond Norway and now has a presence in the United Kingdom, Ireland, Spain, and the United States, indicating a growing international market for its technology.
Keywords: virtual fencing, livestock management, agritech, GPS tracking, sustainable agriculture, animal welfare, precision farming, grazing management, IoT, SaaS