# Nofence AS

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/nofence

- Industry: Agribusiness
- Headquarters: Oslo, Norway
- Website: www.nofence.no/
- Total disclosed funding: $82M
- Latest round: Series B (Jul 31, 2025)
- Investors on record: 10

## About

Founded in 2011 and based in Norway, Nofence AS provides innovative virtual fencing solutions that enhance livestock management through GPS-enabled technology. The company offers farmers a modern approach to boundary control and animal welfare. Nofence AS specializes in creating digital boundaries for livestock, revolutionizing traditional fencing methods. The company was co-founded by Anne Berntsen and Harald Harstad. The current CEO is Joachim Kähler. Nofence has raised NOK 130 million in its most recent funding round on November 18, 2022, from investors Ferd Capital and Project Sandwater. Over its journey, the company has completed a total of 8 funding deals, with the latest round being the total amount raised. The company operates primarily in Norway, with a growing presence in markets including the US and several European countries. Nofence offers an advanced virtual fencing system that utilizes GPS-enabled collars and a mobile application for livestock management. The Pasture Guard system allows farmers to digitally establish and modify grazing boundaries, promoting natural behavior in livestock while reducing stress. This innovative solution enhances farming efficiency by facilitating pasture rotation and supports sustainable practices. Nofence's services are designed for farmers and livestock managers, primarily in the US and selected European markets such as Norway, the UK, Ireland, Spain, and France. In 2023, Nofence reported a revenue of NOK 11,391,662.40 and an EBITDA of NOK -5,501,966.60. The company employs a subscription model providing clients with ongoing access to its technology and app features, ensuring effective livestock management tailored to various agricultural needs. Nofence plans to leverage the NOK 130 million raised in November 2022 to expand its product offerings and market presence. The company aims to enhance its virtual fencing technology and explore new product designs, aligning with the increasing demand for innovative agricultural solutions. Additionally, Nofence is targeting expansion into new geographical regions, focusing on the US and specific markets in Europe by 2025, to enhance its service delivery and reach a broader clientele. In July 2025, Nofence AS raised EUR 30 million in series B funding led by ECBF, with participation from Capagro, Climate Innovation Capital, Nysnø Climate Investments, Speedinvest, Ferd Capital, Momentum Partners, and Sandwater. Other unspecified investors also participated in the round. The company plans to utilize the July 2025 funding for international expansion setup, product development system advancement, and customer service infrastructure reinforcement.

## Funding rounds

- Series B, Jul 31, 2025, $35M — Ferd Capital, Speedinvest, Capagro, Momentum Partners, ECBF, Nysnø Climate Investments, Climate Innovation Capital, Sandwater
- Series B, Jul 1, 2025, $35M — Ferd Capital, Speedinvest, Capagro, Momentum Partners, ECBF, Nysnø Climate Investments, Climate Innovation Capital, Sandwater
- Series A, Nov 7, 2022, $13M — Ferd Capital, Momentum Partners, Wiski Capital, Sandwater, Geogroup AS

## Investors

- Ferd Capital (https://capitalatlas.ai/funds/ferd-capital) — Series A, Series B
- Momentum Partners (https://capitalatlas.ai/funds/momentum-partners) — Series A, Series B
- Wiski Capital — Series A
- Sandwater (https://capitalatlas.ai/funds/sandwater) — Series A, Series B
- Geogroup AS — Series A
- Speedinvest (https://capitalatlas.ai/funds/speedinvest) — Series B
- Capagro (https://capitalatlas.ai/funds/capagro) — Series B
- ECBF (https://capitalatlas.ai/funds/ecbf) — Series B
- Nysnø Climate Investments — Series B
- Climate Innovation Capital (https://capitalatlas.ai/funds/climate-innovation-capital) — Series B