UK timber tracking technology specialist Helveta has completed equity financing of £5m.
The round was led by BeCapital, with the Carbon Trust joining as a new investor. Existing investors Albion Ventures, Oxford Capital Partners and Succès Europe continue their support.
CEO Patrick Newton said the funding would help to drive further expansion of the company’s supply chain governance solutions in the key markets of forest and food products.
Helveta’s CI World supply chain software is being used to monitor more than 2.7 million ha of forest in the Congo and Amazon basins, and in South-east Asia.
“The regulatory and consumer drivers for establishing the legality and sustainability of timber have accelerated the market for Helveta’s technology,” said Rachael Nutter, investment manager at the Carbon Trust.
