London-based energy software company Tem has closed a $75 million Series B round led by Lightspeed Venture Partners, with additional funding from AlbionVC, Atomico, Hitachi Ventures, Schroders Capital, Voyager Ventures, Allianz, and others.
The round reportedly values the company at more than $300 million and will fund its expansion into the United States and Australia.
Tem builds an AI-native energy platform designed to automate the pricing, matching, and execution of electricity transactions, a market that has long relied on manual processes and legacy infrastructure.
Its core system uses machine learning to forecast supply and demand, match buyers with suppliers, and reduce the layers of intermediaries that typically add cost and complexity.
According to Tem, more than 2,600 businesses in the UK are already on its platform, with customers reporting energy cost savings of up to 30 per cent compared with traditional procurement approaches.
The startup also handled roughly two terawatt-hours of electricity transactions in 2025, a volume it says demonstrates growing demand for automated energy market infrastructure.
Tem’s approach is often described as bringing modern software-first tools to a sector still dominated by brokers, manual trading desks, and outdated systems. By replacing fragmented legacy workflows with a unified AI-driven engine, the company aims to make energy markets more efficient while giving businesses clearer price signals and lower transaction fees.
With the new funding, Tem plans to accelerate its global footprint, beginning with key energy markets such as Texas in the United States and select regions in Australia, where grid modernisation and renewable integration are creating fresh demand for flexible energy trading tools.
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