Timbeter

The Estonian company Timbeter founded in 2013 develops the digital solution for wood measurement. The startup developed mobile application which defines quantity, the volume and diameters of logs in a stack, on the timber carrying vessel or in a container. This artificial intelligence technology allows to save time and resources of entrepreneurs, to increase safety of employees, will provide transparent and completely legal trade in the wood, it is told on the website Timbeter.

History

2020: Attraction of $1 million investments, including from TMT Investments

At the end of January, 2020 Timbeter announced attraction of $1 million investments. The round of financing headed fund with the Russian roots TMT Investments. Besides, EigenKapital, Change Ventures, Contriber Ventures and Wiser invested in a startup. According to Telegram channel "Russian venture", TMT Investments provided to Timbeter about $220 thousand.

We are very glad to these investments as we see that the exact timber industry Timbeter platform provides same an essential gain of profitability, transparency and efficiency in the forest sector, as the exact agro-industrial platforms used agriculture — the founder and the partner of Change Ventures Yrjö Ojasaar said.

Timbeter announced attraction of $1 million investments

According to own data of Timbeter, algorithms accelerate measurement and processes of documentation by 10 times and increase the accuracy of such works five times in comparison with traditional methods. Software of the company is used in 60 countries, is available in 11 languages and has more than 20 thousand users.

Algorithms "are trained" more than on 300 thousand pictures. The error in measurements makes 0.5 — 1.5%, developers exclude a possibility of a human error.

Timbeter is going to spend the involved investments into increasing sales in the countries of the Southern Asia and Latin America and also for creation of digital infrastructure between the companies and the state departments.^[1]

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