Nofence and the Future of Farming: Smarter, Greener, Boundary-Free

At Speedinvest, our investment thesis centers on founders solving real-world problems at scale – from pre-Seed through Growth. Sometimes that means telco APIs (Gigs), sometimes fintech rails (Pliant), and in this case, it meant pulling on boots in rural Norway to see firsthand how Nofence is reinventing livestock farming.

Nofence is at the heart of solving one of the biggest challenges in agriculture: fencing.

Ask any farmer, from the Scottish Highlands to the fields of Vermont, and you’ll hear how much time, money, and effort go into building and maintaining fences.

That’s where Nofence comes in. We first met the team in October 2020 and have been following their journey ever since. Headquartered in Norway, Nofence has built the world’s first virtual fencing system. Its solar-powered GPS collars and intuitive mobile app allow farmers to manage grazing areas in real-time, all with just a few clicks.

Getting the product right was anything but simple. From navigating a complex regulatory framework to solving intricate technical challenges, the Nofence team has spent years refining its approach. And, when we reconnected with Joachim (CEO) and Lars (CFO) last spring, it was clear this team’s persistence and hard work had finally nailed it. The result is an industry-leading solution already trusted by thousands of farmers across Europe and the US. 

The opportunity extends far beyond fencing.

The data collected through the collars will revolutionise how farming is done today and in the future, with powerful applications like monitoring animal health and soil regeneration. 

This is why we’re thrilled to announce our growth investment in Nofence as part of their newly closed $35M Series B, Europe’s largest AgTech round in 2025 so far.

A Smart Solution to a Complex Problem

For most hardware startups, the real opportunity lies not just in the device itself, but in using it as an entry point to a broader platform. Nofence is a good example: while they sell a single device, a GPS collar, the real value comes from the data and the services it powers, from virtual fencing to animal health monitoring to conservation grazing. 

Yet what founders and investors often overlook is just how hard it is to build robust, reliable hardware in the first place, especially to solve complex problems like virtual fencing. 

Nofence provides GPS-enabled neck collars and a mobile app to create invisible boundaries for livestock. When an animal approaches the boundary, the collar emits an escalating audio cue, and if ignored, delivers a gentle and safe electric pulse to deter them. Farmers set and adjust these boundaries remotely via the app. Animals learn how to respond to the collar's warning sound within a week, prompting them to turn around to avoid the electric pulse. 

But how do you make the system work when cellular connectivity is often poor in remote areas? How do you keep collars running for an entire grazing season? And, more importantly, how do you guarantee reliability without ever compromising animal safety?

For Nofence, the answers came through close collaboration with farmers and researchers. Over time, the company relentlessly kept innovating, integrating solar-powered batteries, motion sensors, and advanced connectivity capabilities such as HerdNet, a unique collar-to-collar communication system.

And we are not even mentioning the challenges of scaling hardware operations globally, as Nofence successfully did over the years, selling across Europe and now the US.

From Norway to the World: Why Virtual Fencing Is Scaling Fast

The opportunity is enormous. Globally, there are more than 1 billion cattle, nearly 1.3 billion sheep, and around 1 billion goats, according to the FAO. Even modest adoption across these populations could unlock a multi-billion-dollar addressable market. 

In the US, virtual fencing is already accepted and growing like a weed. In Europe, adoption remains uneven but is expanding quickly. Following successful pilots in the late 2000s, Norway, Spain, and the UK moved to authorize its use, with Nofence emerging as the market leader. By contrast, countries such as Sweden, Germany, and Denmark still limit virtual fencing to pilot projects or research-driven conservation programs.

But signs of change are emerging. Policymakers are taking note as awareness of virtual fencing’s benefits, both for animal health and biodiversity, continues to grow. Recently, the Swedish government called on the European Union to authorize virtual fencing across all member states by next year. 

What is more, technological advances, combined with reduced hardware costs, are making these solutions more economically viable than ever for farmers. The benefits are clear: They are saving thousands of euros each year, not only on fencing materials, but also on labor and maintenance, while freeing up valuable time for more productive work. 

In addition, fewer physical fences means more wildlife corridors plus lower CO2 emissions from equipment and labour.

In short, momentum for Nofence is only set to grow as the wider sector gains more visibility and mainstream adoption. 

What Makes Nofence the Category Leader

Nofence stands out as a first mover. Founded in 2011, the company spent years investing in research and development before launching commercially. Their approach is distinguished by several factors:

• Low upfront costs: Unlike competitors who target larger farms, Nofence collars do not require a separate base station, making the initial setup more affordable. This streamlined approach is particularly appealing to midsize farms, which make up the bulk of the market.
• Best-in-class connectivity: The recently launched Herdnet system enables direct collar-to-collar communication, solving connectivity challenges in remote areas. This is unique in the industry. 
• Multi-species support: Nofence is the only solution that also works for sheep and goats, not just cattle. 
• Plug-and-play: Farmers can deploy the system with minimal training and draw pastures simply, using a simple mobile app.

Beyond Fencing: Building the Data-Driven Future of Agriculture

The potential of virtual fencing doesn’t end with livestock containment. Having collected 700 million hours of grazing data, Nofence is unlocking new use cases from animal behaviour analysis to conservation grazing and wildfire prevention. 

With these innovations, Nofence is setting the pace for smarter and more sustainable livestock management. And, why not, a new IoT ecosystem for agriculture? 

Together with ECBF and the other investors in this round, we are proud to back Joachim, Lars, and the stellar Nofence team as they build the next generational Agtech company. Stay connected!