Nofence to raise NOK 30 million from Wiski Capital, Momentum and Norselab.
Nofence, a Batnfjordsøra, Norway-based company building a business based on a smart wearable for cattles, completed a funding round of NOK 30M ($3.5M).
Nofence, founded in 2011 and led by CEO Erik Harstad, developed a wearable for animals - a solar-powered GPS collar and a digital map. If an animal crosses the nofence boundary and enters the warning zone, the collar starts vibrating and beeping to warn the animal that it will receive an electric shock.
Nofence currently has 16 employees and a turnover of NOK 26 million ($3M) in 2020. It previously raised $2.3M in 2019.