A bold mission to tackle cloud waste inefficiency has just received a major boost, with Optimaze securing AUD $3 million in pre-seed funding. But here's where it gets controversial: the company believes that a significant portion of global and Australian cloud computing expenditure, estimated at over $1 trillion, is being wasted.
Optimaze, an AI-cloud waste startup based in Sydney, aims to address this issue head-on. With the global cloud computing market booming, the company's founders, Ralf Capel and Dawshiek Yogathasar, have observed the challenges enterprises face in managing cloud usage and controlling waste.
"Cloud waste has become a pressing issue as cloud services expand and become more complex," says Capel, a former Amazon Web Services Commercial Lead. "It's costing businesses billions and consuming a significant portion of global energy. With the AI boom, the problem is only getting worse."
The company's platform uses artificial intelligence to identify and address cloud waste in real-time. By quantifying financial impact and providing AI agents to support stakeholders, Optimaze aims to reduce repetitive financial operations and streamline billing based on outcomes and usage.
Yogathasar, a former Rokt Vice President of Engineering, highlights the environmental impact of cloud computing, which is under increasing scrutiny. "The energy waste in Australian cloud environments is a major concern, especially with the rise of AI workloads. Data centres' energy and emission footprints are comparable to the aviation industry, and with AI models demanding more computational power, the need for efficiency is critical."
Optimaze's platform is designed to help clients achieve both financial and environmental objectives simultaneously. As AI-heavy workloads become more prevalent, businesses need to quantify their value and optimize their cloud resources.
"Cloud spend is a significant controllable cost, and with AI-heavy GPU workloads on the rise, businesses must take action. Optimaze's AI agents provide real-time insights and automate fixes, setting a new standard for accountability in the cloud," says Anthony Potts, Managing Partner at Arconic, one of the investors in this funding round.
With this funding, Optimaze plans to expand its engineering team, accelerate product development, and form partnerships with key cloud providers. The company is currently running a private beta of its software, offering access to interested enterprises.
So, is Optimaze's mission to tackle cloud waste a step towards a more sustainable future, or is it just another tech solution in a crowded market? What are your thoughts on the role of AI in addressing environmental concerns? We'd love to hear your opinions in the comments!
