Timbeter closes $1 million seed round to fuel expansion in Southeast Asia and Latin America
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Estonian company Timbeter, whose solutions help the forestry sector adopt digital technology to optimise transparency and efficiency in forestry management, has raised $1 million in its seed round. The seed round was led by TMT Investments, the venture investing company listed on the London Stock Exchange.
The Tallinn-based company developed a smartphone application that measures timber quickly and accurately, which is now a full-fledged logistics and reporting platform. This helps companies to speed up forestry operations, increase employee safety and save resources. Timbeter makes processes more objective and transparent, enables better control and data-driven planning of logistics and production, and thus contributing to sustainable forest management.
Timbeter has also built the world’s largest database of photometric measurements of roundwood, allowing for live online tracking of timber assets down to individual shipments and piles throughout the forestry value chain.
Anna-Greta Tsahkna, CEO of Timbeter, explained that the new financing round will help Timbeter expand its sales activities in the target markets, and also to develop the bridge between companies and governmental organisations, by reducing the sectors administrative burden in insurance, tax and regulatory reporting. “By facilitating smooth digital data exchange between the government and companies, it is easier to ensure sustainable forest management and fight illegal logging,” the CEO of Timbeter said.
Timbeter is a global industrial timber measurement, logistics and reporting platform.