Timbeter raises $1M Seed Round for growing their precision forestry platform’s reach
I am happy to announce that our portfolio company Timbeter has raised $1 million in seed financing. Timbeter is a precision forestry platform digitalizing the industrial timber market. Compared to traditional methods, the Timbeter’s algorithms cut measurement and documentation times by 10 and increase accuracy by 5 times. All cut timber can be photometrically measured, weiged, sorted, valued and tagged at every step in the forestry value chain Timbeter AI and ML accuracy is based algorithms from the world's largest database of cut timber photometric measurements.
We are very excited about this investment because we see Timbeter’s precision forestry platform bringing similar dramatic increases in profitability, transparency and efficiency to the timber sector that precision agriculture platforms have delivered in the AgriTech industry.
Timbeter’s CEO Anna-Greta Tsahkna has recruited some of the biggest players in the industry such as International Paper (Brazil), Faber-Castell (Brazil), Siam Forestry Group (Thailand), Mekong Timber Plantations (Laos), Port Blakely (USA), SEQH (Australia) and others to be clients. The proceeds of this round will be used to expand sales and support in key markets such as South America, the USA and Asia.
This financing round was led by TMT Investments, the London Stock Exchange (TMT) listed VC famous for its early bets in Bolt and Pipedrive. We are also excited to have Ahti and Alari Aho, founders of successful time-tracking platform Toggl, joining the round.
