Overview
London-based energy transactions company Tem has raised $75 million in Series B funding to modernize electricity buying and selling, aiming to build transaction infrastructure for the energy market. The funding will help scale their AI-native solutions.
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London-based energy transactions company Tem has raised $75 million in Series B funding to modernize electricity buying and selling, aiming to build transaction infrastructure for the energy market. The funding will help scale their AI-native solutions.
Investors: Lightspeed Venture Partners, Hitachi Ventures, Voyager Ventures, Allianz
TEM, an energy transactions scaleup, has raised £55 million in an oversubscribed Series B round led by Lightspeed Venture Partners. The funding aims to support TEM's international expansion and enhance its AI-native energy transaction infrastructure, which addresses inefficiencies in the energy market. With over $300 million in annualized gross transaction value and a customer base exceeding 2,600 in the UK, TEM claims to reduce energy bills by up to 30%. Key investors include Hitachi Ventures, Voyager Ventures, and Allianz.