Estonian company Timbeter, whose solutions help the forestry sector adopt digital technology to bring transparency and efficiency to forestry management, has closed $1 million seed round.The round was led by TMT Investments, the venture investing company listed on the London Stock Exchange.
Timbeter has built the world’s largest database of photometric measurements of roundwood, which allows live online tracking of timber assets down to individual shipments and piles throughout the forestry value chain.
Timbeter is using artificial intelligence to help companies in their digital transformation by speeding up forestry operations, increasing employee safety and saving 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.
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 organizations, 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.
