Recently, a wood building platform called 011h received $25 million to help buildings decrease carbon dioxide emissions. This was in order to further the development of carbon-neutral buildings that could create a more sustainable world. A large number of companies have been actively working on similar projects; some are even close to approaching the 2050 net zero target. Others have already surpassed European 2030 decarbonization goals.
€5.8M To Redefine The Offline Timber Industry
Timberhub is a B2B platform for wood related materials. They recently closed $6.6M in seed funding from European early-stage investors HV Capital and Creandum. Additionally, Speedinvest closed a $80M fund focusing on green tech startups.
Timberhub will use the recently obtained funding to grow their engineering department and continue the digital transformation of the timber industry.
Ion Sergis is the CEO and co-founder of Timberhub. When Timberhub’s partner companies Speedinvest, HV and Creandum understood the opportunity to digitize the construction industry, Sergis said they were excited to contribute to a greener industry. By making timber supply chains transparent, available and delivered faster, construction projects would be more affordable and reliable.
Timberhub is a platform for matching suppliers and buyers of wood. It was founded by Tommy Androutselis and Creandum, an investment company. During a volatile time in the wood industry, Timberhub has assisted sawmills, manufacturers and construction companies as a reliable partner. They aim to digitize the lumber industry and use the investment to further their infrastructure and tools. Additionally, COO Androutselis expressed his gratitude to HV for becoming an additional world-class investor in Timberhub.
Felix Klühr from HV stated, “ The lack of construction materials will have a significant impact on both the public and private sectors. However, this can be addressed by creating a more efficient marketplace that provides transparency in price, quality and availability for a sector in serious need of digital solutions.”
Creandum’s Peter Specht said, “Timberhub’s managed marketplace brings many benefits to the wood products manufacturing and construction industry. These benefits include increased process efficiency, improved availability, certainty and sustainability. This is because Timberhub’s marketplace connects manufacturers with suppliers and buyers in a predictable manner— an imperative shift in manufactures and builders for a more sustainable future. The positive response to Timberhub’s marketplace proves the immense necessity of this opportunity; the partnership between Timberhub and Creandum was a natural next step.
Digitises Timber Industry
In the early days of digitization, Timber is one of the largest businesses globally. It was founded in March 2022 by Ioannis Androutselis, Dimitrios Pagkratis, Thomas Androutselis and Ion Sergis, who was the Head of Pricing at Uber EMEA.
By connecting manufacturers, construction companies and sawmills through its digital B2B marketplace, it aims to redefine the timber industry. The aim is to make the process of procuring, paying for and transporting materials far more seamless. It’s believed that this will provide significant benefits in efficiency, productivity and profitability for all stakeholders involved in the supply chain.
By encouraging transparency, Timberhub hopes to make wood the preferred material for construction and manufacturing. The platform intends to make timber the number one choice for building materials— in doing so, founders believe it can reduce the time needed to obtain wood and shortened supply lines. They also believe that increased timber usage can reduce embodied carbon in buildings— a 69% reduction by substituting wood for conventional building materials.
Timberhub is a Dutch startup that launched its service five months ago. Since then, it’s served customers in 15 European countries— including large construction companies and small manufacturers. The supply side of Timberhub’s network consists of sawmills of all sizes that provide the right quality and availability of timber materials at competitive prices.