Forests are an incredibly important environmental resource. To make sure that they are more sustainably managed, Tallinn-based Timbeter has raised €500k for its greentech solution.
On a mission to make forestry more sustainable, ‘one log at a time’, Timbeter is a greentech startup using AI to protect and better manage European forests. The Estonian startup just raised €500k in a funding round led by Future Investment Initiative (FII) Institute.
Forestry is an important and controversial issue. It’s been reported that world forests are declining at an alarming rate at great expense to our planet’s wellbeing and societal sustainability. It’s now estimated that world forests have decreased by a third in size over the last century due to reckless practices. Today, the timber industry is dominated by companies formed in the 19th century who are under increasing pressure for supply chain transparency, sustainability and certification, in line with ESG processes.
Founded in 2013, Timbeter specialises in timber measurement and data management by using AI and Machine Learning technologies. It basically allows anyone with a smartphone to measure log diameters, log count and log pile density in minutes. This can then be used by companies to have greater oversight of their forestry data.
Anna-Greta Tsahkna, CEO of Timbeter, explained: “The forestry sector needs a digital transformation in order to become more sustainable, transparent and efficient. This collaboration with the FII Institute will enable Timbeter to deliver this important message to high-level decision-makers, aiming to help countries mitigate climate change, fight against illegal logging and ensure sustainability across the sector.”
A recent benchmarking study conducted by Poznan University in Poland demonstrated that Timbeter’s results were statistically identical to the ground truth physical measurements, despite requiring less time and cost. Claiming an accuracy for timber measurement at 95% or above and a timber database of 1.5 million images, Timber is now trusted by global blue-chip corporates who supply and use lumber as well as state government forest owners.
Richard Attias, CEO of the FII Institute, said: “We are delighted to partner with a leading green tech company like Timbeter. Through utilising machine learning technology and artificial intelligence, Timbeter is creating innovative solutions for the management of forests, which will help ensure sustainable practices across the timber industry.”
With demand for timber growing, this investment in Timbeter will help prevent illegal logging while sustaining the world’s forests as a key source of habitation and livelihood. It’ll help support the development of technologies that address the world’s biggest social and environmental challenges.