1 00:00:00,120 --> 00:00:01,960 Speaker 1: If you haven't latched onto this one yet. The Halter 2 00:00:02,080 --> 00:00:04,320 Speaker 1: story is worth following. It's a Kiwi text story. We've 3 00:00:04,320 --> 00:00:07,000 Speaker 1: told you about it before. They've created GPS enabled collars 4 00:00:07,000 --> 00:00:09,560 Speaker 1: for cattle right. Their market cap is now in excess 5 00:00:09,560 --> 00:00:12,000 Speaker 1: of three billion. They've just raised over three hundred and 6 00:00:12,000 --> 00:00:14,560 Speaker 1: seventy million. They're on an expansion path. Craig Peggott is 7 00:00:14,600 --> 00:00:16,960 Speaker 1: the CEO and founder of Halter and is with us. 8 00:00:17,000 --> 00:00:20,279 Speaker 1: Craig morning, Good morning, Mike. There's quite a bit of 9 00:00:20,280 --> 00:00:22,040 Speaker 1: buzz around you at the moment, the market cap and 10 00:00:22,079 --> 00:00:23,279 Speaker 1: the noise you're feeling. 11 00:00:22,920 --> 00:00:29,200 Speaker 2: That, Yeah, I think in some ways, yes, obviously where 12 00:00:29,360 --> 00:00:33,000 Speaker 2: we're spending a lot of time with customers and so yeah, 13 00:00:33,000 --> 00:00:34,680 Speaker 2: we get a bit of feedback from them. 14 00:00:34,880 --> 00:00:36,680 Speaker 1: How much money is out there if you want to 15 00:00:36,760 --> 00:00:37,040 Speaker 1: raise it? 16 00:00:38,720 --> 00:00:43,000 Speaker 2: Oh, a lot, that's for sure. There is. The capital 17 00:00:43,040 --> 00:00:45,360 Speaker 2: markets are in a really good spot at the moment 18 00:00:45,479 --> 00:00:49,320 Speaker 2: if if you have you know, a good product and 19 00:00:49,400 --> 00:00:56,280 Speaker 2: generational ambition and in a healthy business. So yeah, there's 20 00:00:56,320 --> 00:00:57,480 Speaker 2: definitely a lot of capital out there. 21 00:00:57,560 --> 00:00:59,960 Speaker 1: How much scrutiny are you wonder when you go to 22 00:01:00,120 --> 00:01:02,600 Speaker 1: raise money? This is an area that just fascinates me 23 00:01:02,880 --> 00:01:05,399 Speaker 1: in tech especially I look at the money flying around 24 00:01:05,440 --> 00:01:08,160 Speaker 1: and I'm thinking, are you guys asking any questions? Do 25 00:01:08,240 --> 00:01:10,800 Speaker 1: they griew you on what you do, how you're doing it, 26 00:01:10,840 --> 00:01:12,800 Speaker 1: and what sort of return they can expect or is 27 00:01:12,800 --> 00:01:14,440 Speaker 1: that money for jam? 28 00:01:15,000 --> 00:01:19,360 Speaker 2: Totally? No, that is it is extremely thorough. You spend 29 00:01:19,360 --> 00:01:21,520 Speaker 2: a lot of time going through every aspect of the business, 30 00:01:21,560 --> 00:01:25,080 Speaker 2: from product to your customer base to what's coming up, 31 00:01:25,120 --> 00:01:28,920 Speaker 2: all your financials now lawyers spend. You spend a lot 32 00:01:28,920 --> 00:01:30,720 Speaker 2: of money on lawyers in a process like this, so 33 00:01:31,920 --> 00:01:33,800 Speaker 2: they are they're definitely going very deep. 34 00:01:34,120 --> 00:01:36,560 Speaker 1: How are you juggling your market cap and your money 35 00:01:36,600 --> 00:01:39,560 Speaker 1: raise at the moment with your expansionary plans and balancing 36 00:01:39,600 --> 00:01:41,040 Speaker 1: that up so you don't go puff? 37 00:01:42,760 --> 00:01:48,000 Speaker 2: Yeah, I think we we're always kind of analyzing what 38 00:01:48,000 --> 00:01:50,200 Speaker 2: the run amount of capital is for the business and 39 00:01:50,960 --> 00:01:53,160 Speaker 2: how we can invest that. And the reason we went 40 00:01:53,160 --> 00:01:56,640 Speaker 2: out to do this round is where like we have 41 00:01:56,680 --> 00:01:59,240 Speaker 2: just seen so much demand from our current markets and 42 00:01:59,280 --> 00:02:01,480 Speaker 2: we really want to keep investing more into that and 43 00:02:01,560 --> 00:02:04,480 Speaker 2: keep pushing the product forward. Obviously, technology is moving rapidly 44 00:02:04,520 --> 00:02:06,160 Speaker 2: at the moment. There's a lot more we can do 45 00:02:06,200 --> 00:02:08,960 Speaker 2: on the product side, and we're I'm trying to fast 46 00:02:09,000 --> 00:02:11,160 Speaker 2: track the global expansion of the business as well. 47 00:02:11,200 --> 00:02:13,919 Speaker 1: And do excuse my ignorance when you talk about the technology, 48 00:02:14,160 --> 00:02:16,680 Speaker 1: is it AI at all in that sense? I mean, 49 00:02:16,760 --> 00:02:19,680 Speaker 1: is it exponential as to what it might be able 50 00:02:19,720 --> 00:02:20,600 Speaker 1: to do one day or not? 51 00:02:21,800 --> 00:02:24,880 Speaker 2: Yes? Correct, Yeah, there is. AI is impacting I think 52 00:02:24,960 --> 00:02:28,440 Speaker 2: every part of this world, and it is very much 53 00:02:28,520 --> 00:02:30,680 Speaker 2: kind of core and a big part of the whole 54 00:02:30,680 --> 00:02:31,480 Speaker 2: TO product as well. 55 00:02:31,760 --> 00:02:34,160 Speaker 1: And so over what time frame do you think this 56 00:02:34,200 --> 00:02:37,240 Speaker 1: will unfold? And what will it do for cows and 57 00:02:37,280 --> 00:02:39,160 Speaker 1: farms and lack of fences, et cetera. 58 00:02:39,840 --> 00:02:44,840 Speaker 2: Eventually, we already have machine learning and AI. Can I 59 00:02:44,880 --> 00:02:47,919 Speaker 2: throw out the whole TO product and we'll keep pushing 60 00:02:47,960 --> 00:02:50,160 Speaker 2: new features and new products out to try and solve 61 00:02:50,200 --> 00:02:54,200 Speaker 2: more problems for our farmers. And I think that that 62 00:02:54,320 --> 00:03:00,000 Speaker 2: kind of cadence or speed is only increasing. And so yeah, 63 00:03:00,000 --> 00:03:02,000 Speaker 2: it's kind of hard to pick a specific time frame 64 00:03:02,000 --> 00:03:04,440 Speaker 2: because every week these you know, these new advancements and 65 00:03:04,800 --> 00:03:07,520 Speaker 2: new new announcements coming. So we're just trying to bridge 66 00:03:07,560 --> 00:03:10,000 Speaker 2: that gap between technology and farming and keep bringing the 67 00:03:10,080 --> 00:03:11,200 Speaker 2: latest tech to farmers. 68 00:03:11,280 --> 00:03:14,880 Speaker 1: You're going to sell, Ah, that is not the plan. 69 00:03:15,560 --> 00:03:16,920 Speaker 2: We have a lot of work to do. We feel 70 00:03:16,960 --> 00:03:20,080 Speaker 2: like we're the more we do, the more I ambitious forget. 71 00:03:20,120 --> 00:03:22,520 Speaker 2: So we've got got a lot to do. Maybe one 72 00:03:22,600 --> 00:03:26,360 Speaker 2: day we'll look at an IPO, but yeah, at the moment, 73 00:03:26,360 --> 00:03:27,920 Speaker 2: we've got a lot of work to do. 74 00:03:28,240 --> 00:03:30,160 Speaker 1: Is it like everything you thought it would be? Are 75 00:03:30,200 --> 00:03:32,440 Speaker 1: you living the dream? Uh? 76 00:03:32,720 --> 00:03:36,560 Speaker 2: It is extremely hard. It's brutal at times, but it 77 00:03:36,640 --> 00:03:39,640 Speaker 2: is also very fun. And I think getting to build 78 00:03:39,640 --> 00:03:42,640 Speaker 2: a product for farmers it has been like such a 79 00:03:42,640 --> 00:03:44,880 Speaker 2: privilege and growing up on a farm and kind of 80 00:03:44,880 --> 00:03:48,040 Speaker 2: initially in some ways building this for my parents, and 81 00:03:48,040 --> 00:03:51,280 Speaker 2: then it's now become far bigger than I could have 82 00:03:51,360 --> 00:03:54,600 Speaker 2: really ever matched. So that's a credit. So I guess 83 00:03:54,760 --> 00:03:57,600 Speaker 2: our customers and the whole ted team and everyone that's 84 00:03:57,600 --> 00:03:58,720 Speaker 2: been part of the journey. 85 00:03:58,520 --> 00:04:00,520 Speaker 1: Super exciting and go, well, well it pr time. We'll 86 00:04:00,520 --> 00:04:02,200 Speaker 1: get you back on again soon. Craig Picket, who's the 87 00:04:02,320 --> 00:04:05,440 Speaker 1: CEO and founder of Halters. For more from the Mic 88 00:04:05,480 --> 00:04:08,560 Speaker 1: Asking Breakfast, listen live to news Talks at b from 89 00:04:08,640 --> 00:04:12,040 Speaker 1: six am weekdays, or follow the podcast on iHeartRadio.