Estonian greentech startup Timbeter raises €500K
10 June, 2022, 18:45
The Tallinn-based greentech startup Timbeter has raised a €500,000 funding to make forestry more sustainable. Future Investment Initiative Institute led the round, EU-Startups reports.
- Founded in 2013 by Anna-Greta Tsahkna, Martin Kambla, and Vallo Visnapuu, Timbeter specializes in timber measurement and data management by using AI and Machine Learning technologies. It allows any user with a smartphone to measure log diameters, log counts, and pile density in minutes.
- FII Institute led this round. It is a not-for-profit foundation seeking to empower the ideas to materialize and scale sustainably. The company was founded in 2019 and is headquartered in Riyadh, Saudi Arabia.
“We are happy to partner with a leading greentech company like Timbeter. Timbeter is creating innovative solutions for the management of forests, which will help ensure sustainable practices across the timber industry,”Richard Attias, CEO of FII Institute comments on the investment.
- In 2020, Timbeter closed its €920,000 seed round to expand in SE Asia and Latin America. TMT Investments led that round with participation from Change Ventures, Contriber Ventures, and Wiser Financial Advisors.
- The fresh funding will allow Timbeter further develop its technology to prevent illegal logging while sustaining the world’s forests.