Amsterdam-based Timberhub, a digital timber marketplace, announced on Tuesday that it has raised €1.5M in its pre-Seed round of funding. The investment was led by European early-stage investor Speedinvest. The firm has more than €600M AUM and 40 investors based in Berlin, London, Munich, Paris, and Vienna. It has already invested in more than 250+ companies.
Heinrich Gröller, Partner at Speedinvest, says, “Ion and his co-founders are exactly the right team 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.”
Besides Speedinvest, various business angels and founders also participated in the round, these include Sennder founders David Nothacker, Julius Köhler, and Nicolaus Schefenacker; Moonfare co-founder Alexander Argyros; and, Qogita COO Manolis Manassakis.
“The future of timber trade”
One can find wood everywhere in different types, forms and shapes, however, the timber trading market is characterised by offline and inefficient manual processes. Supplies are hard to vet and buyers rely on several middlemen to source their products. This results in elevated prices and unreliable transportation. And this is where Timberhub steps in.
Founded in 2022 by Ion Sergis, Dimitris Pagkratis, Giannis Androutselis and Thomas Androutselis, Timberhub aims to digitise the entire sawn timber procurement process. To do so, the team is building a digital marketplace for timber to support manufacturers and contractors in purchasing, transporting, and financing their raw materials.
Timberhub equips manufacturers with the tools to manage and grow their business while enabling sawmills to expand their network beyond their traditional set of buyers. As of now, the company is working with customers and sawmills from Germany, Austria, Romania, Poland and Ukraine.
The Amsterdam startup is looking to contribute to a sustainable future for manufacturing and construction. Along with making it easier to trade timber, the platform also helps buyers to verify the origin of the timber, traded on the platform, allowing them to make ethical and sustainable purchases.
CEO and co-founder Ion Sergis, says, “Together we will help thousands of SMEs grow sustainably, overcome their struggles, and contribute to a greener future in global manufacturing and construction.”