Tem has built a transaction engine that relies on AI to cut costs. Lightspeed led the round to help the startup expand to the U.S. and Australia.

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London-based startup Tem raised $75M Series B to expand its AI-powered electricity trading platform to the US and Australia. The company operates a transaction engine (Rosso) that uses machine learning to match renewable energy generators with business customers, promising up to 30% cost savings by eliminating intermediaries. Tem currently serves 2,600+ UK businesses through its utility division RED, with plans to eventually open its infrastructure to other utilities as a marketplace play similar to AWS or Stripe.

Tem raises $75M to remake electricity markets using AI

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