A North Dakota startup raised $10 million from ranchers and neighbours to build the operating system for beef cattle

TL;DR

701x, a Fargo-based agtech company, closed an oversubscribed $10M+ Series B funded entirely by ranchers and local investors with no VC involvement. The company builds satellite-connected GPS ear tags and integrated software for beef cattle, has hit profitability, and is expanding to six countries.

701x, a Fargo-based agricultural technology company, has closed an oversubscribed Series B round exceeding $10 million, funded entirely by local investors from North Dakota and Minnesota and rancher-customers across the United States. No venture capital firm or institutional investor participated. The company has also hit its first profitable month and is preparing to launch in Australia, New Zealand, Mexico, the United Kingdom, and Brazil before year-end, adding to existing operations in Canada.

The funding model is as notable as the product. In an era when AI startups raise billions from sovereign wealth funds and Silicon Valley mega-firms, 701x built a complete technology ecosystem for...

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