Artificial Intelligence | News | Insights | AiThority
[bsfp-cryptocurrency style=”widget-18″ align=”marquee” columns=”6″ coins=”selected” coins-count=”6″ coins-selected=”BTC,ETH,XRP,LTC,EOS,ADA,XLM,NEO,LTC,EOS,XEM,DASH,USDT,BNB,QTUM,XVG,ONT,ZEC,STEEM” currency=”USD” title=”Cryptocurrency Widget” show_title=”0″ icon=”” scheme=”light” bs-show-desktop=”1″ bs-show-tablet=”1″ bs-show-phone=”1″ custom-css-class=”” custom-id=”” css=”.vc_custom_1523079266073{margin-bottom: 0px !important;padding-top: 0px !important;padding-bottom: 0px !important;}”]

Morgan Stanley Investment Management’s 1GT Co-Leads $50 Million Funding for Everstream Analytics

1GT co-led Series B funding for Everstream Analytics (Everstream) to accelerate global supply chain sustainability and reduce emissions for leading global brands

Morgan Stanley Investment Management (MSIM) announced that the 1GT climate private equity strategy (1GT) co-led a $50 million Series B funding round for Everstream alongside existing investors StepStone Group and Columbia Capital. Everstream applies artificial intelligence to procurement, logistics and business continuity platforms to generate complete information, sharper analysis, and accurate predictions and enable businesses to achieve a more autonomous and sustainable supply chain.

 Latest AiThority Interview Insights : AiThority Interview with Malcolm Koh, Director, CX Practice at Zendesk

“I’m pleased to partner with the 1GT team and existing investors and I’m grateful to all of our customers, partners and team for their trust and collaboration as we champion this modern-day supply chain revolution.”

Exogenous shocks and emission reduction targets have heightened scrutiny on supply chains. Indeed, as company’s supply chains can account for over 90% of their greenhouse gas emissions, diagnosing the sources and volumes of emissions across complex supply chains is imperative for firms with Net Zero commitments.1 This focus, combined with recent severe weather events and a continued hangover from pandemic disruption, has made operational and efficiency improvements to supply chains a priority for corporates.

The funding will drive Everstream’s innovation in both operational risk and Environmental, Social and Governance (ESG) performance to further enhance supply chain sustainability for global brands like AB, InBev, Whirlpool, Danone, Abbott Laboratories and Boston Scientific Corporation (BSCI) among others.

Read More about AiThority InterviewAiThority Interview with Jon Zimmerman, Chief Executive Officer at Holon Solutions

“We look to invest exclusively in companies that provide products or services to address time-critical carbon impact issues, while meeting fiduciary obligations to their investors,” said Vikram Raju, MSIM’s Head of Climate Investing and 1GT. “We are pleased to fund Everstream’s continued innovation in helping companies around the world make measurable, meaningful progress in emissions reduction while keeping their supply chains profitable.”

“This funding comes when we are doubling down on our product innovation and executing rapidly and decisively to advance supply chain sustainability, which is more critical now than ever,” said Julie Gerdeman, CEO of Everstream. “I’m pleased to partner with the 1GT team and existing investors and I’m grateful to all of our customers, partners and team for their trust and collaboration as we champion this modern-day supply chain revolution.”

Part of MSIM’s $200 billion alternative investments business, 1GT aims to make investments in companies that will collectively avoid or remove one gigaton of carbon dioxide-equivalent (CO2e) emissions from the Earth’s atmosphere from the date of the Platform’s investment through 2050, the date by which the United Nations has mandated “Net Zero” must be achieved.

AiThority Interview Insights: AiThority Interview with Kyle Wong, Chief Strategy Officer at Emplifi

 [To share your insights with us, please write to sghosh@martechseries.com] 

Comments are closed.