Timberhub, an Amsterdam-based digital timber marketplace, announced on Tuesday that it has secured a €1.5M pre-seed funding round led by early-stage investor Speedinvest.
Other business angels and founders, including Sennder founders David Nothacker, Julius Köhler, and Nicolaus Schefenacker, Moonfare co-founder Alexander Argyros, and Qogita COO Manolis Manassakis, also participated.
Ion Sergis, Timberhub CEO and co-founder says, “We are delighted to partner with Speedinvest and a stunning group of angel investors. Together we will help thousands of SMEs grow sustainably, overcome their struggles, and contribute to a greener future in global manufacturing and construction”
What does Timberhub solve?
The global market for sawn timber materials stands at over $600B. In spite of this, the timber trading market is characterised by offline and inefficient manual processes.
Moreover, the buyers rely on several middlemen to source their products, resulting in elevated prices and unreliable customer support.
The Dutch timber marketplace, founded in 2022, is on a mission to digitise the entire sawn timber procurement process.
A digital marketplace for timber
Timberhub is developing a digital marketplace to efficiently and sustainably trade timber by connecting manufacturers and sawmills across Europe.
The platform equips manufacturers with the tools to manage and grow their business while enabling sawmills to expand their network beyond their traditional set of buyers.
Timberhub also helps buyers verify the origin of the timber trade on the platform, allowing them to make more ethical and sustainable purchases.
The company also says that it helps sawmills expand their networks beyond their traditional customers and improve their cash flow, making their sales processes more efficient and allowing them to concentrate fully on production.
At present, Timberhub is working with customers and sawmills from Germany, Austria, Romania, Poland, and Ukraine.
Speedinvest is a venture capital fund investing in pre-seed, seed, and early-stage tech startups. The company has more than €600M AuM (Asset Under Management) and 40 investors based in Berlin, London, Munich, Paris, and Vienna. The VC has invested in companies like Wefox, Bitpanda, TIER Mobility, GoStudent, Wayflyer, CoachHub, Schüttflix, TourRadar, Adverity, and Twaice are among our portfolio of 250+ companies
Heinrich Gröller, Partner at Speedinvest, says “Ion and his co-founders are exactly the right teams to digitise this very old-fashioned industry. They have the right technological tools to improve supplier performance and customer experience, and their marketplace is creating added value for everyone involved.”