Helveta, an Oxford, UK-based global asset tracking company, has raised £1m in a second funding round.
Carbon Trust Investments Ltd has joined existing investors Oxford Capital Partners, Albion Venture and Success Europe.
The investment will support the further development and deployment of the company’s software to track timber through its complex supply chain and enable verification of source to help wipe out the global illegal timber trade.
Helveta is currently deploying the software in Liberia, South Africa, Bolivia and Ghana and plans to soon enter other central African countries for whom the European Union is a key market.
The company is also exploring potential applications in agriculture and livestock tracking.