Tallin-based Timbeter, precision-forestry startup, closes €920K to expand in SE Asia and Latin America | EU-Startups
Summary
Estonian company Timbeter, which is digitalising and bringing transparency to the forestry sector, has closed a seed round of approximately €920K. 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, which continue to be a problem, both in terms of undermining responsible wood fiber products and harming the environment and populations in many parts of the world. “By facilitating smooth digital data exchange between the government and companies, it is easier to ensure sustainable forest management and fight illegal logging”, said Tsahkna.