30 million euros Series B for Nofence

The Norwegian agtech company Nofence, a pioneer in commercial virtual fencing, has successfully closed a Series B financing round of 30 million euros. This is the largest agtech financing round in Europe so far in 2025.

Strong backing from international investors

The round was led by the European Circular Bioeconomy Fund (ECBF). Other investors include Capagro, Nysnø Climate Investments, Climate Innovation Capital and Speedinvest. Existing backers such as Sandwater, Momentum and Ferd also increased their stakes. The broad support reflects the confidence in Nofence as a pioneer for digital and sustainable solutions in the European livestock sector.

This financing round confirms our vision to establish virtual fencing as the global standard for pasture management.

Joachim Kähler, CEO of Nofence

Growth in Europe and North America

With the new capital, Nofence intends to expand its business across Europe and North America, increase support for farmers and accelerate product development. Demand is growing particularly strongly in Spain, Ireland, the UK and Norway. Thousands of farmers are already using the technology to simplify pasture management, promote biodiversity and reduce labor.

Virtual fences as a contribution to sustainable agriculture

The Nofence solution is based on GPS-supported, solar-powered collars that are connected to an app. Farmers can define virtual pasture boundaries that deter animals from crossing them acoustically and, if necessary, with a mild impulse. This allows physical fences to be replaced, costs to be reduced and areas to be managed more flexibly. If you look at the product images of the collars, especially those intended for cows, you are immediately reminded of the classic cowbell. Although these were used to make it easier to find stray animals, the basic principle of keeping a herd together seems similar.

Virtual fences help farmers to work more efficiently while achieving environmental and animal welfare goals.

Marielle Hvide, CCO of Nofence

The technology is designed to promote rotational grazing, an approach that improves soil health, reduces emissions and supports animal welfare standards. Since the first pilot projects in 2016, Nofence has sold over 150,000 collars.

With over 90 employees in Norway, the UK, Ireland, Spain and the USA, Nofence is on course for international expansion. The fresh capital is intended to accelerate expansion and help establish virtual fences as an integral part of climate-friendly and competitive agriculture.