October 11, 2021, Chassell, MI – Today Waldo Solutions, Inc announces the successful closing of its pre-seed investment round with the addition of a strategic angel investor.
Logging is a multi-billion-dollar industry burdened with manual processes, particularly in the areas of wood security, inventory control, and logistics. These inefficiencies result in significant cost increases and produce less than optimal results for truckers, loggers, mills, and land management companies.
Through its Software-as-a-Service (SaaS) Platform and Mobile Application, Waldo enables seamless communication for improved planning, control, transparency, chain of custody, security, safety, and reporting. Waldo compiles and transmits data electronically, eliminating the need for the current paper system, providing unparalleled efficiencies to all parties.
“Waldo is truly unique because our solution finally enables land management companies and sawmills to connect and conduct business electronically with all of the independent loggers and truckers who represent the vast majority of the supply chain”, says Waldo CEO Leo Huhta. “We are very excited to secure this investment round and proceed with achieving our next set of milestones”.
Waldo is an Upper Peninsula (U.P.) of Michigan company and has been supported by MTEC SmartZone’s Transformative Technology Accelerator Program since shortly after the company’s inception in 2020. MTEC helped Waldo prepare its investment materials, provided introductions to strategic angel investors and its initial pilot customer, one of the largest timberland management companies in the United States.
“We are thrilled for the Waldo team,” said Patrick Visser, CCO of MTEC SmartZone. “Waldo’s solution really helps address an industry need and is sophisticated, yet easy-to-use innovation for the forest industry, which has a major presence across the U.P. of Michigan.
Waldo will be utilizing the new investment capital to enhance and scale its technology, expand the pilot program and form a sales team.
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About Waldo
WALDO Solutions, Inc. is a Forestry 4.0 chain-of-custody SaaS Platform and Mobile Appsenabling seamless communication for improved planning, control, transparency, security, safety, and reporting. Waldo offers real-time information on job site progress and a fast and efficient way for land management companies and mills to manage and coordinate their jobs while complying with chain-of-custody requirements. Waldo compiles data electronically eliminating the need for the current paper system, providing unparalleled efficiencies to all parties throughout the value chain.
About MTEC SmartZone
Michigan Tech Enterprise Corporation (MTEC) is one of 20 SmartZone Incubators in the State of Michigan. MTEC is a 501(c)(3) non-profit organization working with the Michigan Economic Development Corporation (MEDC), its mission is to facilitate the creation and ongoing success of high-tech value propositions in conjunction with the local entrepreneurial ecosystem. Since 2003, the MTEC SmartZone has provided mentoring, technical support, and other services to local companies that have led to the creation of over 800 high-tech jobs in the Houghton and Hancock Michigan area.
About MEDC
The Michigan Economic Development Corporation, in collaboration with more than 100 economic development partners, markets Michigan as the place to do business, assists businesses in their growth strategies, and fosters the growth of vibrant communities across the state. MEDC’s Entrepreneurship & Innovation initiative establishes Michigan as the place to create and grow a business by providing high-tech start-up companies with access to a variety of critical resources, such as funding and expert counsel, from ideation to maturation. For more on MEDC Entrepreneurship & Innovation, visit michiganbusiness.org/entrepreneurship
Contact
Leo Huhta, CEO, Waldo Solutions Inc.
906-231-3120
www.waldologs.com