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Helveta’s timber track and trace technology receives GBP3m investment

Helveta, a provider of global timber track and trace technology, has raised GBP3m in a funding round led by French technology investor Succés Europe.

Helveta, a provider of global timber track and trace technology, has raised GBP3m in a funding round led by French technology investor Succés Europe.

The funding round was supported by existing investors Albion Ventures and Oxford Capital Partners. 

The investment will finance the continued international growth and expansion of the company. 

In the tropical timber industry, a key concern is ensuring that only timber from legal and sustainable sources reaches the market. Illegal logging costs the governments of timber-producing states between EUR10bn and EUR15bn a year in the form of theft, non-collection of forest taxes and depressed timber prices. Illegal logging also increases the rate of deforestation, which is the second biggest driver of climate change, accounting for 18 to 25 per cent of greenhouse gases released globally.

The scale of the problem has led to legislation in both the US and EU aimed at putting measures in place to verify the legality of timber, and technology such as that delivered by Helveta is playing a pivotal role in projects across Africa, South East Asia and the Amazon basin.

Helveta’s technology enables customers to trace assets through the supply chain, providing traceability and verification. Production is monitored using Helveta’s mobile device-based software applications – CI Mobile – and barcode or RFID reader technologies, which in turn link into Helveta’s web-based suite of tools and reports – CI World. Helveta has extended its capability to the food storage and distribution sector, providing valuable information on the origin of food produce.

‘Helveta is the only technology solution for timber and food supply chains capable of delivering global traceability and remotely verifiable regulatory compliance data over the web. We are pleased that our continued expansion has received investment from Succés Europe, as well as continued support from Oxford Capital Partners and Albion Ventures,’ says Helveta chief executive Patrick Newton. ‘This investment is an endorsement of the progress we’ve made in supporting real change within the industry, and comes as we are poised to announce a number of new contracts in key timber producing nations.’

‘Succés Europe is delighted to be making its first investment in Helveta, and we have been struck by the company’s unique opportunity for growth within the current climate. The Company has strong management and a solid pipeline of opportunities and we look forward to working with the board and our co-investors to build on the Helveta success story,’ says Mario Anid, director and investment committee president at Succés Europe.

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