Estonian forestry technology startup Timbeter raises $1m expansion funding

31 January 2020


Estonian company Timbeter, whose artificial intelligence technology helps companies in the forestry sector, closed the seed funding round with a total backing of $1m from five investors.

Timbeter is an industrial timber measurement, logistics and reporting platform which eliminates manual counting, measuring and tracking of timber assets. It has built what it says is “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’s algorithms are said to have the ability to cut measurement and documentation times by ten and increase accuracy by five times.

It has already secured domestic customers and, as the software is available in 13 languages, boast more than 20,000 users worldwide. This round of funding will enable it to fully expand into South America and Asia.

Anna-Greta Tsahkna, CEO of Timbeter, explained that the new financing round will help Timbeter  expand its sales activities in the target markets. “By facilitating smooth digital data exchange between the government and companies, it is easier to ensure sustainable forest management and fight illegal logging”

Anna-Greta Tsahkna