Amsterdam-based Timberhub, a digital timber marketplace, announced on Tuesday that it has secured €5.8M in a Seed round of funding co-led by European early-stage investors HV Capital and Creandum. In addition, existing investor Speedinvest and the founders of the logistics startup Sennder, also participated in the round.
The announcement comes around six months after raising €1.5M in a pre-Seed round led by Speedinvest.
The Dutch company says it will use the funds to accelerate engineering growth and continue the digital transformation of the timber industry.
Ion Sergis, Timberhub CEO and co-founder, says, “We are excited about the opportunity to contribute to a greener construction industry. Bringing transparency, higher availability, and faster delivery times in the timber supply chain will improve construction projects’ affordability and predictability. Creandum, HV, and Speedinvest are great partners that understand that this is the right time to digitise this industry.”
Timberhub: What you need to know
Founded in 2022 by Ion Sergis, Dimitris Pagkratis, Giannis Androutselis, and Thomas Androutselis, Timberhub is a digital B2B marketplace that aims to digitise the offline timber industry by connecting manufacturers and construction companies with sawmills.
Parallelly, Timberhub also manages procurement, payments, and transportation of timber materials through its marketplace.
The Dutch company aims to utilise the opportunity as the demand for timber is expected to double in the next ten years, fueled by the environmental benefits of the material used in the construction industry, claims the company.
Timberhub equips manufacturers with the tools to manage and grow their business while enabling sawmills to expand their network beyond their traditional buyers.
Currently, Timberhub serves customers across 15 countries in Europe, ranging from small manufacturers to large construction companies.
On the supply side, Timberhub’s network includes sawmills of all sizes, guaranteeing availability, competitive prices, and the right quality of timber materials.
Tommy Androutselis, Timberhub COO and co-founder, says, “Timberhub has been a reliable partner to numerous sawmills, manufacturers & construction companies during this volatile period. We aim to digitise the timber industry, and we will use the investment to double down on building the infrastructure and the right tools for all market participants. We are thrilled to add HV and Creandum to our team of world-class investors.”
Investors
Creandum is a pan-European early-stage venture capital firm with a portfolio of 120+ companies.
Peter Specht of Creandum says, “Timber is one of the largest industries globally yet in the early days of digitisation. Timberhub’s managed marketplace brings better processes, higher availability, and predictability into this market and contributes to the imperative shift towards a more sustainable future for manufacturing and construction. The company’s extraordinary growth from the get-go reflects the strong need for this. Paired with the marketplace and industry expertise of the team, we are thrilled to partner up.”
HV Capital has invested in internet and technology companies through various fund generations since 2000. The VC firm supports startups with capital between €500K and €50M.
Felix Klühr of HV says, “The lack of construction materials has had and will continue to have a massive impact on our society in both the private and public sectors. This can only be tackled by creating a more efficient marketplace that brings transparency on price, quality, and availability to a gigantic industry in deep need of digital solutions. With the team’s experience in building consumer-grade marketplaces and unprecedented early traction, we’re beyond excited to join forces with the team, Creandum, and its early backers.”
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