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AWS, Altruistiq Partner on Carbon Footprint Measurement Software

March 20, 2023 by Joe Panettieri

Altruistiq and Amazon Web Services (AWS) are partnering to help businesses measure, manage, and reduce carbon emissions, the two technology companies said.

Saif Hameed, CEO, Altruistiq

Altruistiq, based in London, England, develops a software platform that "enables large enterprises with complex supply chains to automate sustainability data measurement, management and exchange - with unparalleled accuracy and ease," the company asserts.

Altruistiq, founded in 2020, had 61 employees listed on LinkedIn. The SaaS-based software company, is led by CEO Saif Hameed. Early Altruistiq adopters include Gousto and DANX.

Gousto, a UK food retailer that can now calculate the carbon footprint of every recipe on its menu, down to individual ingredients, the companies said. Meanwhile, DANX, a Danish logistics and supply chain specialist, leverages Altruistiq to design and deliver a near real-time dashboard on the carbon impact of each account the company holds with car manufacturers and retailers, the companies said.

As for AWS, the company is seeking to reach net-zero carbon by 2040—10 years ahead of the Paris Agreement, the cloud services provider notes. Here's a look at Amazon's overall sustainability strategy and milestones.

Climate Technology Funding and Carbon Emissions Tracking

Altruistiq raised roughly $18.1 million in Seed Funding in mid-2022. Molten Ventures led the seed funding round, with support from Norrsken and multiple individual advisors.

George Chalmers, head of climate, Molten Ventures

In a prepared statement about the funding, George Chalmers, head of climate at Molten Ventures said: “Altruistiq is already proving the power of its platform which we believe can be the category leader of a rapidly evolving market. There is an increasing need and demand for a carbon abatement solution to go beyond just reporting and Altruistiq is in a strong position to meet those needs. We are delighted to back such an exceptional team and look forward to joining them on this exciting journey.”

Climate technology companies raised $59 billion in funding across 1,182 deals in 2022, according to BloombergNEF.

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