Energy tech startup tem announced that it has raised $75 million in a Series B funding round, with proceeds aimed at scaling its AI-energy transaction infrastructure for electricity markets.
UK-based tem develops AI software which helps companies buy renewable clean power directly from generators, reducing reliance on energy wholesalers and brokers and transforming how electricity is bought and sold.
To date, the company has already facilitated more than 2TWh of energy transactions, surpassing $300 million in annualized grows transaction value.
The new funding round was led by venture capital firm Lightspeed, with strategic follow-on participation from Hitachi Ventures, Allianz and Schroders, alongside existing investors Atomico, AlbionVC and Revent.
tem raised $14 million in its Series A round in July 2025, led by Atomico, with participation from AlbionVC, Revent and angel investors.
Joe McDonald, CEO and Co-Founder of tem, said:
“We’re not building another energy company. We’re building transaction infrastructure for energy – fixing the data and financial plumbing that sets the price of electricity.”
