701x Closes Oversubscribed Series B, Hits Profitability, and Launches Global Expansion

Community-funded round backed by North Dakotans and Minnesotans, along with rancher-users across the country marks a defining chapter for the only technology ecosystem built exclusively for the beef cattle industry.

FARGO, N.D. — 701x, the Fargo, North Dakota-based agricultural technology company bringing connected intelligence to the beef cattle industry, today announced the close of an oversubscribed $10M Series B funding round. Marking six years in business with strong adoption across the United States, the company simultaneously announced it has hit profitability, added world-class talent, and is accelerating a major global expansion.

Unlike typical venture-backed technology companies, 701x’s Series B was raised entirely from individuals who believe in the company’s mission: local North Dakotans and Minnesotans extending to the greater Minneapolis area, and rancher-users from across the country who have experienced the 701x platform firsthand. No venture capital or institutional money was involved.

The Only Ecosystem Built for Beef Cattle

In six years, 701x has built what no other company has: a true, connected ecosystem of the most important technology tools focused exclusively on beef cattle. The 701x platform spans on-ranch software, breed association software, smart wearables, DNA solutions, and a growing accessory product line — all designed to work together and give producers the complete picture of their herd.

At the heart of the wearables category is the xTpro — a GPS smart ear tag that utilizes direct-to-satellite connectivity to deliver real-time data and alerts straight to a rancher’s phone, no matter where the herd is located. Equipped with a suite of onboard sensors, the xTpro enables 701x to provide producers with instant alerts for out-of-fence events, animal health changes, estrus detection, calving activity, and bull-not-mounting notifications — putting critical herd intelligence in the palm of a rancher’s hand around the clock.

Profitability Fueled by Heavy R&D Investment

701x has achieved its first profitable month — a significant milestone for a company that continues to direct the majority of its labor budget toward research and development. Current R&D priorities include completing a comprehensive overhaul of an acquired registry software platform and advancing innovation toward a full feedlot management system, both of which represent major near-term milestones for the company and its customers.

75% Reduction in Assembly Costs for the xTpro Tag

Through the integration of robotics and automation throughout its production line, 701x has reduced assembly costs for its signature xTpro smart ear tag by 75%. This manufacturing transformation is no accident: 701x Founder and CEO, Kevin Biffert, built Fargo Automation from the ground up as its sole owner, developing high-speed automation machinery for some of the largest pharmaceutical companies across the globe before selling the company to Körber Medipak in 2017. That deep expertise in precision manufacturing is now being applied directly to 701x’s production operations, allowing the company to achieve significant efficiencies of scale and deliver high-quality, low-cost products to the market at scale — an advantage that grows as production volumes increase.

World-Class Talent Joins for Global Expansion

To support its global ambitions, 701x has brought on world-class talent across key functions. The company is already live in Canada and is on track to launch in the following markets before the end of the year:

• Australia

• New Zealand

• Mexico

• United Kingdom

• Brazil

This expansion positions 701x as a truly global platform for the beef cattle industry, bringing precision livestock technology to producers across four continents.

“701x was founded because the beef industry deserves better technology — not outdated or single function piecemeal tools, but a connected ecosystem designed specifically for cattle producers. 701x provides tools with the greatest ROI by targeting ranchers true pain points – fertility and health metrics for their cattle. Closing an oversubscribed round funded by our neighbors, our community, and our own customers is the kind of validation that means the most to us. This is just the beginning.” — Kevin Biffert, CEO, 701x

About 701x

Founded in Fargo, North Dakota, 701x is building a complete technology ecosystem exclusively for the beef cattle industry. The 701x platform brings together on-ranch management software, breed association tools, smart wearables, DNA solutions, and accessory products into a single connected system for cattle producers. With strong adoption across the United States and active operations in Canada, 701x is expanding globally to bring precision livestock technology to beef producers worldwide. Learn more at www.701x.com