tem Secures £55m in Series B Funding to Automate Business Energy Contracts with AI in UK, Texas, and Australia
tem has raised £55m in a Series B funding round to enhance its AI-native infrastructure for business energy contracts and expand internationally into markets like Texas and Australia. The funding will support product rollout, aiming to automate energy procurement processes to reduce costs and inefficiencies. The company's technology includes the Rosso transaction engine and the RED customer interface. This funding round, led by Lightspeed Venture Partners, brings tem's total financing to approximately £68.8m.
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tem has secured £55m in a Series B funding round to expand its AI-based transaction infrastructure for business energy contracts. The funding will facilitate entry into new markets, specifically Texas and Australia, and support product rollout intended to simplify energy procurement.
The company aims to reduce costs through automation of price discovery and execution, addressing inefficiencies in long-term contracts. Its technology comprises the Rosso transaction engine and the RED customer interface. The investment round, led by Lightspeed Venture Partners, raises tem's total financing to about £68.8m, highlighting strong investor interest in energy tech innovations.
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