Estonian company Timbeter, who have been involved in previous FIEA Technology events (and who have confirmed that they will be presenting in this year’s September series, HarvestTECH 2020 in Australia and New Zealand, has closed a seed round of approximately €920K.
Timbeter, founded in 2013, is a global industrial timber measurement, logistics and reporting platform. Timbeter’s precision forestry platform eliminates manual counting, measuring and tracking of timber assets, cutting measurement and documentation times by 10 and increasing accuracy by 5 times.
How does it work? Having built the world’s largest database of photometric measurements of roundwood, it can track timber assets in real time, down to individual shipments and piles throughout the forestry value chain. Compared to traditional methods, its algorithms use artificial intelligence to speed up forestry operations, raise transparency, increase employee safety and save resources.
The startup’s approach is also contributing to combating illegal forestry activities. Additionally, the company has already snapped up some major local and international clients, such as CMPC (Chile), International Paper (Brazil), Faber-Castell (Brazil), Siam Forestry Group (Thailand), Mekong Timber Plantations (Laos), Port Blakely (USA), SEQH (Australia), among others.
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 a bridge between companies and governmental organizations, by reducing the sector’s administrative burden in insurance, tax and regulatory reporting.
Source: eu-startups.com, photo: Timbeter
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