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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.